I got a package in the mail from TRowe, which gave me the option of actually keeping my 401k with my former company. Is this possible and is there a disadvantage/advantage to this?
2007-04-30 10:18:55 · 5 answers · asked by Dru D 1 in Business & Finance ➔ Personal Finance
If you think they are doing a good job managing it, keep it there.
In general, I think it's a better idea to roll it over into an IRA. It gives you a wider range of choices to invest in, and some are better than your current limited number of choices your employer offers.
2007-04-30 13:18:18 · answer #1 · answered by Quixotic 3 · 0⤊ 0⤋
They may charge you an administrative fee now that you are no longer employed there. But if your new employer doesn't offer a 401(k), you would have to pay a fee anyway to somebody as the custodian of an IRA you might roll it into, and you like the investment options, then you should consider leaving it there.
2007-04-30 17:27:48 · answer #2 · answered by lmnop 6 · 0⤊ 0⤋
It's possible, and it may be advantageous, but if you move it you can move it where you would like it.
2007-04-30 17:23:53 · answer #3 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
yes, let them know that u have another job and what paper work u need to feel out..
2007-04-30 17:27:08 · answer #4 · answered by shorty21 5 · 0⤊ 0⤋
yes you can.My husband just did ours that way..
2007-04-30 17:32:29 · answer #5 · answered by Dixie 6 · 0⤊ 0⤋