looking to move about 230k from company 401k and need some advise thanks to sll who read my post

My advice is to hire a fee based professional to guide you and ignore financial advice from strangers on the internet

Ahhh, come on TXJIM! I know of a few can't miss picks!!

Well, except for that damn GE stock. Thank goodness I sold most of it a good while ago. At least I broke even...(I swear, I've never been to Las Vegas).

We have some people on here who are knowledgeable.

Jallen would always part some wisdom, God rest his soul.

Lots (tons of variables)

General thoughts. On that kind of amount I would consider spreading it out some. Maybe manage some yourself. I use Vanguard. But Fidelity is popular. Then maybe meet and use a broker who comes recommended from someone you trust. But keep in mind the market has been on fire so every one has been happy for the last several years. So do you homework and be leary. Good luck.

Take a look at opening a brokerage account at Vanguard or Fidelity. You can get pretty much anything at either -stocks, ETFs, bonds, mutual funds, index funds, CDs, etc.

Be sure you follow rules on moving 401K. You don't want to get a letter from the IRS saying you owe taxes on it. You want to do a rollover to an IRA account.

https://investor.vanguard.com/...T.srch=1&cmpgn=PS:RE

https://www.fidelity.com/build...01k-rollover-options

https://investor.vanguard.com/...ss/month-end-returns -- Vanguard family mutual funds and ETFs.

Then you can decide if you want to manage your investments yourself, as I have my whole life, or pay someone else to do so. Vanguard and Fidelity can offer guidance also. Problem with finding someone else to manage your money is finding someone very competent. Many, if not most, financial advisers tend to make money off of fees on selling you their company's products that are often quite high, never buy a mutual fund with a front or back load fee. Very few financial advisers beat the stock market indexes such as the S&P 500 over time and there are mutual funds and ETFs based off market indexes. Depending on your age, financial goals, and tolerance for risk you would want to come up with a plan on how much of your investments in want invested in stocks/stock funds and the rest invested in something else such as bonds/bond funds, CDs, or money market funds.

Though the stock market has gone up every year since 2008, realize that there are risks investing in the stock market. The link below shows the yearly performance of the Vanguard 500 index fund, VFINX, since 1977.

https://finance.yahoo.com/quot...VFINX&.tsrc=fin-srch

You might want to pick up a couple books to read if you want to manage your investments yourself. Good luck.

https://www.amazon.com/Truth-A...keywords=ric+edelman

Call Vanguard.

https://investor.vanguard.com/home/

They will walk you through rolling it into an IRA.

Divide it between 2 or 3 index funds of your choosing after doing a little research.

Have been investing with them for ~25 years.


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As others have said, save yourself a ton of money and contact Vanguard or Fidelity. I have used both for over 20 years.

I have used Charles Schwab for twenty years, and I am very satisfied with them. I am now in the process of moving the balance of my 401(k) to a new account at Fidelity.

Both Schwab and Fidelity have special offers now, if you transfer $200,000 they give you free trades for two years. Otherwise trades are $4.95, pretty low. You start the account on line, and then get the form(s) to your current 401(k) administrator, who will send you a check made out to the IRA Rollover account. You want to do an IRA rollover.

Both companies have low fee exchange traded funds (ETFs).

If you hire an advisor, make sure he (she) is required to act as a fiduciary. There are a lot of commission salesmen out there acting like financial advisors, who will recommend products that pay the highest sales commission. High commission products include annuities.

Schwab and Fidelity have a lot of educational materials. Read up and be your own advisor. If you don't have a lot of confidence in your abilities, buy ETFs. If you buy stocks, don't take large positions in any one stock.

Congratulations on having a significant retirement fund!

If anyone mentions the word Annuity, leave immediately.
Vanguard and Fidelity are good places to start with a lot of good reading for someone in your situation.
Maybe start out with a targeted date fund based around your age then as you learn more you can move money to other funds.

quote:

Originally posted by old rugged cross:
We have some people on here who are knowledgeable.

Jallen would always part some wisdom, God rest his soul.

Lots (tons of variables)

General thoughts. On that kind of amount I would consider spreading it out some. Maybe manage some yourself. I use Vanguard. But Fidelity is popular. Then maybe meet and use a broker who comes recommended from someone you trust. But keep in mind the market has been on fire so every one has been happy for the last several years. So do you homework and be leary. Good luck.

There are a lot of very knowledgable people on here, but the problem is the OP didn't give enough information for anyone to advise him and is probably best speaking to a professional.

Some factors any advisor would need to know would be: Age, Age to retirement, risk factor OP is looking for, Dependants, what other finances/investments OP has, debt, cash in bank. etc.

Another vote for getting some professional help.
It CAN matter greatly HOW you move the money.
Done incorrectly it can trigger a taxable event in some cases.