I have about $4000 in my 401K from my last employer. I emailed my older brother about this and he has not emailed me back yet. I'm not quite sure where I want to put it at the moment.
I'm thinking maybe Schwab or Fidlety. Are there any really great places I put it where it will grow a lot each year? Are ther any websites that can help me with this? In plain English of course!
2007-03-13 10:06:11 · 3 answers · asked by Anonymous in Business & Finance ➔ Investing
If your new employer has a 401k and the funds are reasonable you should consider first moving it there. However, if the fees are unreasonable or the funds are poor then an IRA is better. Just make sure you don't taint it with any after tax or non-deductible contributions.
As with any investment you have the possibility of losing money...Schwab and Fidelity don't guarantee returns nor will anyone else.
2007-03-16 04:36:10 · answer #1 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
Schwab & Fidelity are perfect for the "I want to invest but need some assistance and tools" group.
I have a Schwab IRA and my wife has a Fidelity IRA. Both are from 401K plans. Both are great. I'm a little more partial to Schwab.
My "main" investing (outside the IRA's) is with Dodge & Cox and Scottrade. Scottrade would be a little dangerous if you're not an experianced investor.
BTW: We pay no fees at either company.
Good luck!
2007-03-13 16:02:11 · answer #2 · answered by Common Sense 7 · 0⤊ 0⤋
Look for NO FEE IRAs and low commision transactions.
I think Schwab and Fidelity both charge you $ 15- $30 per year on annual maintenance fee.
But I think Fidelity will waive that fee if you sign up for their automatic contributions.
2007-03-13 11:16:12 · answer #3 · answered by Geeeyaaa 4 · 0⤊ 0⤋