Skip to main content
No. of Recommendations: 3
In your case, rolling over to an IRA sounds like a good deal.

In some cases the costs of the 401K are subsidized by your employer. So 401K can be cheaper. But we know that Putnam is one of the Marsh & McClannahan funds, which Eliot Spitzer has gone after several times. Frankly he makes them look like crooks. You would expect their expenses to be high. The sooner you can get your money out of their hands, the better.

Some IRA custodians charge maintenance fees; Scottrade does not.

I would suggest that you investigate their fee structure carefully to be sure you know what you are getting into. But not to worry, the nice thing about IRAs is it is easy to move your funds somewhere else if you are dissatisfied with the service. That in itself is a good reason to move from a 401K to an IRA when you get a chance.

Good luck.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.