Old company 401k

[Pahelwan2]

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

[AFC]

2 minutes ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

Move to new one 

[Tellugodu]

3 minutes ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

You can roll over your old company 401k amount to new company 401k plan/account. You need to speak with the new company provider to begin the process.

[anandam2012]

8 minutes ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

open a Rollover IRA account with any provider Vanguard/Fidelity/TD/Robinhood and you can move your 401K to that Rollover IRA account. 

You can invest in stocks/options/ETFs from your IRA account. 

[Pahelwan2]

2 minutes ago, anandam2012 said:

open a Rollover IRA account with any provider Vanguard/Fidelity/TD/Robinhood and you can move your 401K to that Rollover IRA account. 

You can invest in stocks/options/ETFs from your IRA account. 

Manam sanka nakinchestam kada vaa stocks options ante. Mutual funds lantivi emina safe vi suggest vayya

[Sreeven]

26 minutes ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

Prabuvu bidda aina jagan right answer istadu

[enigmatic]

41 minutes ago, Tellugodu said:

You can roll over your old company 401k amount to new company 401k plan/account. You need to speak with the new company provider to begin the process.

cheste emi labham, cheyyakapote emi nashtam 

[Joker23]

1 hour ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

You always roll out from your older company . For this you need to call and talk to your 401K company ( fidelity/Or whoever) 

Once you provide the new company details, their 401k provider, it will take about 2-3 weeks to see those rollover funds from older to new company . 

In your new company , you will see these as new roll over funds ( You can continue the same plan or make changes to it) 

Ex: 401k - > 401k or 401k - >roth 401k , 

Once you make the choice, you can choose how to invest those rollover funds. 

 

In some companies, The older company will send out a check mentioning the amount in your name and the amount. 

You have to mail it to your new 401k company ( please do not cash it -- You will have to pay heavy fines if you  cash it mistakenly) 

It should be cashed out by the new 401k company only 

Emanna questions untey adugu bro.

[Pahelwan2]

32 minutes ago, Joker23 said:

You always roll out from your older company . For this you need to call and talk to your 401K company ( fidelity/Or whoever) 

Once you provide the new company details, their 401k provider, it will take about 2-3 weeks to see those rollover funds from older to new company . 

In your new company , you will see these as new roll over funds ( You can continue the same plan or make changes to it) 

Ex: 401k - > 401k or 401k - >roth 401k , 

Once you make the choice, you can choose how to invest those rollover funds. 

 

In some companies, The older company will send out a check mentioning the amount in your name and the amount. 

You have to mail it to your new 401k company ( please do not cash it -- You will have to pay heavy fines if you  cash it mistakenly) 

It should be cashed out by the new 401k company only 

Emanna questions untey adugu bro.

Rollover IRA request chesina. Vadu cheque pamputadu anta. Then I can deposit in fidelity. From here tell me how to invest?

[DallasKarreBaluGandu]

2 hours ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

nee age 60 vachedaka wait cheyaadame anni @DallasBaluKarry chepindu

[Joker23]

2 hours ago, Pahelwan2 said:

Rollover IRA request chesina. Vadu cheque pamputadu anta. Then I can deposit in fidelity. From here tell me how to invest?

Your new company should provide in the fidelity 401k App. 

Each company have their own selected funds in their company portals. 

Or selective retirement funds that have target dates, if you plan to retire in 2060 , you need to select something like Retirement vanguard 2055 fund, ( they would divest your funds accordingly ....As you grow old they shift from risky to more safer funds or bonds) 

Risk / yearly performance/ Growth and main fees choosuko. 

I usually prefer vangaurd funds as they offer minimal fees. These funds add up over the years. 

0.06% fee is way better than 0.1% fee over long term. 

[Joker23]

2 hours ago, Pahelwan2 said:

Rollover IRA request chesina. Vadu cheque pamputadu anta. Then I can deposit in fidelity. From here tell me how to invest?

if you want to invest in some single stock that you are sure will make you some pretty sweet gains over in a few months. 

Fidelity considers that as super risky and usually investing in one stock or your choice of blend of stocks is very much frowned up on. 

If you still think , you can beat regular investment managers, feel free to call fidelity and ask them to enable that feature, (I dont remember the term they call over my head now ) 

But they will let you sign a document and will enable stock investment of your choice. Always remember this is considered a risky move. 

If you invest all your retirement savings in company X and X Ceo dies tonight or it files bankruptcy overnight. Your money is straight up gone. Thats my 2 cents. 

how much amount are we talking ? I always max out 401k ( 23k..depends) and Invest in Roth IRA Vanguard ( 14K...this year) every year. 

once you invest in 410K , you cannot and should not contribute to any IRA accounts( outside) Roth IRA is fine though

 

[Pahelwan2]

21 minutes ago, Joker23 said:

if you want to invest in some single stock that you are sure will make you some pretty sweet gains over in a few months. 

Fidelity considers that as super risky and usually investing in one stock or your choice of blend of stocks is very much frowned up on. 

If you still think , you can beat regular investment managers, feel free to call fidelity and ask them to enable that feature, (I dont remember the term they call over my head now ) 

But they will let you sign a document and will enable stock investment of your choice. Always remember this is considered a risky move. 

If you invest all your retirement savings in company X and X Ceo dies tonight or it files bankruptcy overnight. Your money is straight up gone. Thats my 2 cents. 

how much amount are we talking ? I always max out 401k ( 23k..depends) and Invest in Roth IRA Vanguard ( 14K...this year) every year. 

once you invest in 410K , you cannot and should not contribute to any IRA accounts( outside) Roth IRA is fine though

 

25k bro in old company. 

[Konebhar6]

7 hours ago, Pahelwan2 said:

What to do with my old company 401k. Dayagala prabuvulu Suggest how to move out and where to invest. No knowledge. 

Move to Robinhood and take advantage of their 3% match. They will add 3% more to the amount you are transferring. Once its done, keep it in cash or moneymarket and collect 5% interest. Else invest in index funds.

[Pahelwan2]

6 hours ago, Konebhar6 said:

Move to Robinhood and take advantage of their 3% match. They will add 3% more to the amount you are transferring. Once its done, keep it in cash or moneymarket and collect 5% interest. Else invest in index funds.

Will Robinhood give 5% interest bro?