401k help

not 100% sure, but you may have to roll over your old 401k into an IRA.

Here is a ARTICLE

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Posted by kslmbuggie

not 100% sure, but you may have to roll over your old 401k into an IRA.

Here is a ARTICLE

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not all company's allow old 401k's rollover. i had to put mine old 401k into an ira.

I've never transfered money from my old 401K to my new onw. I've always transfered it to and IRA. I think that's the only way to do it...or a way to not pay any penalties, etc...??

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Posted by snwb08

you can always leave it where it is if you want; i now have a total of 3 401ks at 3 different places. you don't have to roll it over unless you want to.

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does it continue to grow if I leave it? LOL its really a little sum of money though. So I dunno if its worth leaving it. Its under $100!

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Posted by GinaZ

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Posted by snwb08

you can always leave it where it is if you want; i now have a total of 3 401ks at 3 different places. you don't have to roll it over unless you want to.

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does it continue to grow if I leave it? LOL its really a little sum of money though. So I dunno if its worth leaving it. Its under $100!

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well you're right if it's that small i might just roll it over, but it definitely continues to grow based on your investment.

like I had my merrill lynch in almost all of ML stock; when i left the stock was at $50 and then two years later it was doubled so my whole 401k doubled!! which was awesome BUT then of course they fire the CEO, mortgage crisis, stock tanks, blah blah blah etc. so i refuse to look at it now. what goes down must go back up and vice versa.

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Posted by snwb08

you can always leave it where it is if you want; i now have a total of 3 401ks at 3 different places. you don't have to roll it over unless you want to.

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You never wnat to just leave it..once you leave the comany they really don't look after your money and it isn't being matched so there is no point...your better off rolling it over into an IRA so that it can have some growth and it's being taken care of.

Mind you that nothing is growing in today's market.

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Posted by snwb08

you can always leave it where it is if you want; i now have a total of 3 401ks at 3 different places. you don't have to roll it over unless you want to.

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You never wnat to just leave it..once you leave the comany they really don't look after your money and it isn't being matched so there is no point...your better off rolling it over into an IRA so that it can have some growth and it's being taken care of.

Mind you that nothing is growing in today's market.

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Posted by bluekat16

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Posted by snwb08

you can always leave it where it is if you want; i now have a total of 3 401ks at 3 different places. you don't have to roll it over unless you want to.

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You never wnat to just leave it..once you leave the comany they really don't look after your money and it isn't being matched so there is no point...your better off rolling it over into an IRA so that it can have some growth and it's being taken care of.

Mind you that nothing is growing in today's market.

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true it might not be matched but it still grows; my company match right now is terrible anyway so i'd rather keep it where it is. But yes, a part of me is just too lazy to roll it over. I don't think any company looks after your money - it's always up to me to track how my investments are doing even now.... and yes, i'm still too lazy to do even THAT.

i figure i have another 30+ years of working anyway.

my new company matches more than my old company and Im at a large financial company now, so i think the investment options are better. I emailed the costomer service, so they will probably send me some sort of form.

thanks for all the help ladies!!!