I was terminated from my job and now have $65,000.00 to rollover from my 401K into something ??Any recommendations as to what to roll it into ?It is my retirement fund and will not be touched for another 13 years.
One would normally roll it over into a traditional IRA. Without additional information is is difficult to provide a more meaningful response, but, I would suggest a major low expense, no load mutual fund company such as Vanguard. Perhaps invest in a target retirement fund or a couple of broad based stock and bond index funds.Bob
You may also want to roll it over into your next employer's 401K. There's possible good news and bad news with that option:- Your new employer's plan may allow you to borrow against the principal and you pay yourself back the interest. You cannot do that with your own IRA.- Your new employer's plan may have limited investment options. In most self-managed IRA's you have pretty unlimited investment options. You can keep it in your former employer's plan indefinitely. You are not obligated to roll it over in any given time period. You may want to wait until you know what your new employer offers and make your choice then.Hope that helps!'38Packard
I believe that in order to continue using your former employer's plan (keep the money in there), you have to have at least $5,000 in the plan.Donna
TRue ($5,000 to roll over), but he said he had $65K.......
You know, if I weren't so blind, I could see. Thanks,Donna
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