best place to rollover a 401(k)??

both DH and I have 401k plans from former employers that are just sitting there.

this year i am set on getting our finances and budget in order.

but, boy am i intimidated and overwhelmed....

so....what should we do with these old 401ks? roll over to an IRA? which bank/fund/firm is the best?

ive seen different things from fidelity, vangaurd, dreyfus, etc etc etc

anyone have insights/feedback/experience with this?

please help!!!!

Can you roll them into your 401K's that you currently have now?

I rolled an old 401K into an IRA and it was making little to no money - I was able to roll that IRA into my current 401K.

HTH

I just asked my accountant about what to do with my 401k from my previous employer.
He said the best thing to do is to keep the money in the 401k. IRA's are earning so little right now it's pathetic. You won't be contributing to the 401k but the interest will still be earned. Just check with your 401k holder to see if they have a limitation on how long you can keep those funds in there... some companies have a 5 year limit... other companies don't have any. But you earn more with it in a 401k (without even contributing anything) than you would in an IRA.

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Posted by KerriJohnS

I just asked my accountant about what to do with my 401k from my previous employer.
He said the best thing to do is to keep the money in the 401k. IRA's are earning so little right now it's pathetic. You won't be contributing to the 401k but the interest will still be earned. Just check with your 401k holder to see if they have a limitation on how long you can keep those funds in there... some companies have a 5 year limit... other companies don't have any. But you earn more with it in a 401k (without even contributing anything) than you would in an IRA.

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One of the worst things to do is keep the money in the 401k with an old employer. If that employer suddenly goes under, then you could risk losing the money in that 401k. The best thing to do is roll it over into your new employer's 401k OR roll it into an IRA. Even though you might not make that much money right now, its better then risking it.

Most companies will allow you to roll your old 401(k) into their plan. I've had that happen at 3 of my old jobs, and across all major mutual fund companies (vanguard, mass mutual, etc).

If this isn't an option (but I feel like it totally will be), you can try to do an IRA. I would just pick the one that is the easiest for you to roll, and charges the least amount of fees.

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Posted by stinenandy2010
One of the worst things to do is keep the money in the 401k with an old employer. If that employer suddenly goes under, then you could risk losing the money in that 401k. The best thing to do is roll it over into your new employer's 401k OR roll it into an IRA. Even though you might not make that much money right now, its better then risking it.

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how would you lose it if the employer went under? the only way i can imagine is if your 401(k) funds were invested in your employer's stock ... other investments should be fine ... your money is your money, whether you work there or not ...