2007-08-27 16:20:21 · 5 answers · asked by Mickey 1 in Business & Finance ➔ Personal Finance
go to a broker like edward jones and roll the 401k over into one of there many plans!!!
2007-08-30 14:46:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Resist the temptation to withdrawl early. The penalties are not worth it. You could keep it in the previous companys plan until you find another job that will allow you to roll over into their plan. I think thats what I would do. But the power of compound interest is on your side with that sum. CHECK TO SEE IF YOU ARE FULLY VESTED IN THE PLAN, before you make any decisions.
2007-08-27 23:38:25 · answer #2 · answered by Mike R 3 · 0⤊ 0⤋
Roll it over into an IRA. The HR department should give you paperwork to do this. When I rolled mine over, I just called the company who handled the 401 and asked to roll it over. They took care of everything.
Whatever you do, don't take a cashout. You'll have to pay income taxes on it plus a 10% early withdrawl penalty.
2007-08-27 23:34:42 · answer #3 · answered by bdancer222 7 · 1⤊ 0⤋
Is it portable at this point or are you asking what funds to invest in?
2007-08-27 23:30:08 · answer #4 · answered by JenniferE 2 · 0⤊ 1⤋
ask to take it private...
2007-08-27 23:26:08 · answer #5 · answered by Chrys 7 · 0⤊ 1⤋