Question

Hi!  i recently separated from my previous employer due to the birth of my youngest child.Hi! i recently separated from my previous employer due to the birth of my youngest child. i have a pretty large fully vested 401k balance that i would like to rollover to an IRA, but i am a little overwhelmed by my lack of knowledge and options out there. can anyone point me in a good direction to get started?  

Answer 1

I was in the same position with 401K left behind. Find a co. you're comfortable with and they literally handle everything. Look into schwab, fidelity, etc. and their sites almost always have a rollovers button. It was as simple as clicking the rollover, following directions for free account opening and then providing them with acct #'s for the old account and voila - it rolled over. It really comes down to comfort and preference with the site/interface. You can choose your own funds, choose target date funds and new to schwab are target date index funds - low cost/fees.  

Answer 2

I rolled my old 401k into an IRA with my State farm agent first. Later realized the fees and rolled again to vanguard in a Target date fund.  

Answer 3

It's pretty easy. Rolled my 401k into an IRA at my bank: Ally. Dont remember all the steps, but it was akin to a bank transfer

Answer 4

Just check the fees!  

Answer 5

Also, not all fees are transparent or labeled as fees. Check internal expense ratio of the funds you'd want to invest in. Vanguard and Fidelity have some super low index funds

Answer 6

I highly recommend Fidelity for retirement accounts, or Vanguard. As has been previously said, it’s pretty simple. Just set up a Rollover IRA account with either of them and they will walk you through transferring the money from your 401(k) into their account.  

Answer 7

How active do you want to be with your investments? If the answer is none or very little you can rollover to betterment. You set your risk tolerance and it tracks the rest. If you want to be involved Vanguard or fidelity would be my recommendation.  

Comments

Upvote for this approach/advice.  

Answer 8

Fidelity, Vanguard, and TD are great places to rollover into IRA.  

Answer 9

It depends on when you when you want to pay taxes on it as well. If your not going to investment firm I would recommend going to a credit union

Comments

@theron30 i am a part of a credit union, it’s where i do my banking. i was going to look into betterment, fidelty and vanguard today. i will look into my credit union as well. thank you!  

Answer 10

You may qualify for NUA treatm treatment if you have company stock

Answer 11

Thanks everyone! i was mostly looking on opinions for where to roll to - and i have a lot of great suggestions here! i appreciate your advice and looking out.