Transfer 401k Roth from Alerus to Wealthfront

New / Eng
๐Ÿ‘ฎ๐Ÿปโ€โ™‚๏ธ๐Ÿ‘ฎ๐Ÿปโ€โ™‚๏ธ๐Ÿ‘ฎ๐Ÿปโ€โ™‚๏ธ

New Eng

๐Ÿ‘ฎ๐Ÿปโ€โ™‚๏ธ๐Ÿ‘ฎ๐Ÿปโ€โ™‚๏ธ๐Ÿ‘ฎ๐Ÿปโ€โ™‚๏ธ
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

comments

Want to comment? LOG IN or SIGN UP
TOP 3 Comments
  • Bayer / Other
    Bouillon

    Go to company page Bayer Other

    Bouillon
    No.

    Wealthfront charges 0.25% annually for its service.

    If you canโ€™t 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 Wealthfrontโ€™s own) performs worse than index funds.

    If you donโ€™t 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 thatโ€™s because you have a lot more investment options.
    Jan 1, 2020 0
  • Roku
    LdyMcBeth

    Go to company page Roku

    LdyMcBeth
    Jan 1, 2020 0
  • Google
    bighead2

    Go to company page Google

    bighead2
    Agree with Bayer, above.

    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
    Jan 1, 2020 0