I got a package in the mail from TRowe, which gave me the option of actually keeping my 401k with my former company. Is this possible and is there a disadvantage/advantage to this?
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5 Comments
If you think they are doing a good job managing it, keep it there.
In general, I think it’s a better idea to roll it over into an IRA. It gives you a wider range of choices to invest in, and some are better than your current limited number of choices your employer offers.
yes you can.My husband just did ours that way..
They may charge you an administrative fee now that you are no longer employed there. But if your new employer doesn’t offer a 401(k), you would have to pay a fee anyway to somebody as the custodian of an IRA you might roll it into, and you like the investment options, then you should consider leaving it there.
It’s possible, and it may be advantageous, but if you move it you can move it where you would like it.
yes, let them know that u have another job and what paper work u need to feel out..