Transfer 401k Roth from Alerus to Wealthfront
Jan 1, 2020
3 Comments
I will be chaning jobs in 3 weeks, does it make sense to move my 401k of my old company to my personal wealthfront account?
TC: 140
YOE: 6
#401k
New Eng
I will be chaning jobs in 3 weeks, does it make sense to move my 401k of my old company to my personal wealthfront account?
TC: 140
YOE: 6
#401k
comments
Wealthfront charges 0.25% annually for its service.
If you canโt be arsed to learn about investing, just open an IRA account with Vanguard. Rollover your 401k into it, then put it into one of their index funds like VFIAX. That fund in particular charges 0.04%.
The majority of funds (including Wealthfrontโs own) performs worse than index funds.
If you donโt mind educating yourself and reading a couple of books about investing, then rollover your 401k into an IRA account with TD Ameritrade. Their site is more complex than Vanguard, but thatโs because you have a lot more investment options.
Might add that one reason to keep in your old/new employer 401k is if they have excellent options, e.g. institutional shares of index funds with low ER