I had a 401k at FB and have the choice to keep it where it is or roll it over to my new 401k with no company contribution. Looking for advice on to keep where it is or move it? i called Fidelity and they didnt really help answer that.
Want to see the real deal?
More inside scoop? View in App
More inside scoop? View in App
blind
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
FOLLOWING
Industries
Job Groups
- Software Engineering
- Product Management
- Information Technology
- Data Science & Analytics
- Management Consulting
- Hardware Engineering
- Design
- Sales
- Security
- Investment Banking & Sell Side
- Marketing
- Private Equity & Buy Side
- Corporate Finance
- Supply Chain
- Business Development
- Human Resources
- Operations
- Legal
- Admin
- Customer Service
- Communications
Return to Office
Work From Home
COVID-19
Layoffs
Investments & Money
Work Visa
Housing
Referrals
Job Openings
Startups
Office Life
Mental Health
HR Issues
Blockchain & Crypto
Fitness & Nutrition
Travel
Health Care & Insurance
Tax
Hobbies & Entertainment
Working Parents
Food & Dining
IPO
Side Jobs
Show more
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
comments
Remember, however, that a Rollover IRA is managed by you and you alone (unless you have a financial advisor), so dont invest in anything crazy, this is supposed to be your nest egg.
I am fairly young and dont want to spend a bunch of time investing, so I just throw, everything into a S&P 500 equivalent. I could do this within a 401k, but in an IRA, i at least have more choices and if I change my mind and want to be more active, I can do so.
However, all of the big ones are the same, and all have all the same types of investments. The only difference being trading fees, access to advisors and research.
Fidelity, Wells, Merrill (BoA), Etrade, Schwab, Ameritrade, any would do fine. No matter who you ask, you will hear horror stories about each one individually, but if you just have a simple IRA from a rollover, and you are investing in the typical stuff like indexes and mututal funds, any institution would do. If you want to do more complicated types of investments like options, llp's, etc then the choice if institution will matter as the fees may be significantly different, or they may not offer everything you want.
Also, be aware that not all investments are allowed in a IRA. Investments where there is potentially an unlimited loss like shorting a stock, or uncovered/naked options are not allowed, amongst other thing.