Talking stocks, trading, and investing in general

[beargonefishing]

No, that’s the PW to @beargonefishing fungeon

Only to get in. It's important to remember the Fungeon Inc. promise "The one that got away will never get away again."

 

[Omega Male]

 

[PhilKenSebben]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I roll it over, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

Edited to remove cash out, not what I meant

 

[cross22]

If you cash out Merril you will have to pay a penalty and income taxes on it. Just roll it into chase.

 

[brokencycle]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I cash it out, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

I think it is personal choice. A few thoughts though.

1. Some 401k plans will charge you a maintenance fee if you no longer work there. That's happened to me once after about 3 years. It was like a nominal $3/mo but I'm cheap, and both my 401k plans were with the same place.

2. If you have an IRA you can't backdoor Roth. This may not matter to you or you may be able to mega backdoor Roth through your 401k.

3. Then it just comes down to funds vs ease of management. If you are happiest with the funds in your 401k leave it. If not, moving it makes more sense.

4. I would never cash out a retirement plan and take the penalty.

For what it is worth, I have an IRA with one broker and I rolled my 401k into my new 401k. Still have the IRA with sharing else. No reason other than laziness really.

 

[PhilKenSebben]

If you cash out Merril you will have to pay a penalty and income taxes on it. Just roll it into chase.

My bad, that is what I meant. I don't want to cash it out, just roll it over.

 

[Garrister]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I roll it over, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

Edited to remove cash out, not what I meant

I would recommend that you (and almost all others in your situation) to roll it over into an IRA (preferably held at a large and stable broker like Fidelity or Schwab) in order to avail yourself to a limitless platform of investment options as opposed to the highly structured platform of a 401k plan -- where investment vehicles are limited and determined by your (former) employer. Also, 401k platforms often provide funds that may appear to have lower expense ratios but, in reality, are more expensive because the share class provides a participation tail fee to the provider. I have seen funds charge 0.75% more on a simple C class fund share.

 

[beargonefishing]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I roll it over, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

Edited to remove cash out, not what I meant

Two words: Bitcoin.

 

[Texasmade]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I roll it over, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

Edited to remove cash out, not what I meant

Punctuation is worse than @double00

 

[PhilKenSebben]

Punctuation is worse than @double00

Okay. So. We don't say hurtful things to fambly

 

[venividivicibj]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I roll it over, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

Edited to remove cash out, not what I meant

How are investment options at the new place? If good, roll over to new and continue to backdoor.

 

[Texasmade]

If good, roll over to new and continue to backdoor.

He’s actually quite good at rolling over and getting back doored

 

[Piobaire]

I'd roll out into my self-directed IRA. If you're happy with the allocation in the current fund, but like you said you're down, nothing to stop you from simply dropping it back into the same/similar allocation and enjoy the eventual ride up again.

What BC said about fees. You won't have them in your IRA but will in a 401(k) as the TPA needs to get paid.

 

[gettoasty]

Hey all,

Should I consolidate my old 401k plan I to my IRA account?

When. I changed jobs a few years ago, I moved my large 401k (310k~) to chase and have had it there. It is not doing. Great with the market etc etc l, but things are fine.

I have a smaller 401k sitting in merril, they had about 43 k in it, and is down about 20% from it's highs. Should I roll it over, move it into chase and invest it as I see fit? Or leave it in merril until it hopefully regains it's value?

For whatever it is worth, my chase distribution is SPY heavy (like 90%) with a. Bunch of other dividend stocks that I am slowly reinvesting dividends I to etc. Sadly, most of my dividend portfolio is down big. Might need to average down

Regardless, any thoughts on what I should do with the other 401k?

Thanks!

Edited to remove cash out, not what I meant

Why the sudden thought? What brought this idea to your attention in the first place?

 

[PhilKenSebben]

Why the sudden thought? What brought this idea to your attention in the first place?

Well, left that job a year ago and didnt forget about it, but left it a bit.and here we are. Trying to see what makes the most sense