I'm thinking Schwab, but I can go another way. What should I invest in? Should I put it in one account or spread in around. And what type of funds are good for person in his late 20’s?
2006-07-06 06:23:39 · 7 answers · asked by Hunter 2 in Business & Finance ➔ Investing
You have several options:
Keep it with the same brokerage firm, but roll it over to an Individual Retirement Account (IRA)
Send it to another firm as an IRA or a Roth IRA (a Roth is taxed now, not at retirement)
Roll it over to your new company's 401(k) (not advised).
The brokerage firms will have many funds for you to choose from. With retirement accounts, you contribute on a regular basis and the interest and principle grow over time. Your funds will be collecting interest for 40 years, so go super aggressive (International stocks, small cap).
That's wonderful that you are contributing to your 401(k). You will be surprised at how fast it grows.
2006-07-06 06:40:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Don't pay an investment broker! You want your 401K to work for you. Most companies when you leave don't want to manage your money. I can put you in touch for free rollovers with no brokerage charges and no risk of losing your money. As long as you roll it into another Qualified plan, you're not losing any in fees or taxes to move it. Let me know.
2006-07-06 18:39:12 · answer #2 · answered by Susan C 3 · 0⤊ 0⤋
Fidelity has a Total Market Index fund with an expense ratio of 0.1%, lower than just about anybody else. It has a $10K minimum, so with a little more growth in your fund you can roll it into an IRA with the index fund.
2006-07-06 08:09:44 · answer #3 · answered by rainfingers 4 · 0⤊ 0⤋
You want something that is a little more aggressivem, since you should be in for the long haul. Definitely diversify, spread it around over several types of funds.
2006-07-06 06:27:16 · answer #4 · answered by bairland 3 · 0⤊ 0⤋
go to www.daveramsey.com and find out what he recommends. He is a christian financial counselor that was a millionaire by the age of 26 and lost it all in real estate with borrowed money, now a millionaire again and helping others to get money wise also. Also read his book "Total Money Makeover".
2006-07-06 06:29:21 · answer #5 · answered by pappa_15 3 · 0⤊ 0⤋
Roll it over into another 401k.
2006-07-06 06:27:36 · answer #6 · answered by J G 4 · 0⤊ 0⤋
You should spend it all on a new motorcycle
2006-07-06 06:26:53 · answer #7 · answered by ? 3 · 0⤊ 0⤋