rollover 401k?

[Anonymous]

I'm about to move to a new job and need to decide what to do with my current 401k, with American Funds with about $150k. I had about $350 in fees to maintain the account in 2013, which is a lot more than the "free" I spend to maintain my Schwab Rollover IRA from a previous job, but this account has had very high returns. I'd also like to be able to take a loan from it for a down payment in a couple years, if that's possible after I've left the job. Should I keep it where it is? Roll it over?

[Anonymous]

Most company 401k plans do not allow for loans once you've left the job. If they allow you to continue making loan payments after separation, you need to take the loan now and stash it in a high yield savings account or short term bond fund until you need it. If it's too late for that, you need to see if you can do a partial rollover to your new 401k for that portion of funds.

[Anonymous]

OP - I bet your schwab account has fees, you just arent aware of them. Schwab doesnt work for free.

which account has the high returns? I'm a bit confused.

Also if you want to possibly borrow from it in the future, the $350 is well-worth the flexibility. If this is your first home purchase you might be able to borrow from you IRA, so look into that.

[Anonymous]

Anonymous wrote:OP - I bet your schwab account has fees, you just arent aware of them. Schwab doesnt work for free.

which account has the high returns? I'm a bit confused.

Also if you want to possibly borrow from it in the future, the $350 is well-worth the flexibility. If this is your first home purchase you might be able to borrow from you IRA, so look into that.

She won't be allowed to borrow from a 401k when no longer employed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP - I bet your schwab account has fees, you just arent aware of them. Schwab doesnt work for free.

which account has the high returns? I'm a bit confused.

Also if you want to possibly borrow from it in the future, the $350 is well-worth the flexibility. If this is your first home purchase you might be able to borrow from you IRA, so look into that.

She won't be allowed to borrow from a 401k when no longer employed.

That actually depends on whether your employer permits it or not. Some do, most don't.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP - I bet your schwab account has fees, you just arent aware of them. Schwab doesnt work for free.

which account has the high returns? I'm a bit confused.

Also if you want to possibly borrow from it in the future, the $350 is well-worth the flexibility. If this is your first home purchase you might be able to borrow from you IRA, so look into that.

She won't be allowed to borrow from a 401k when no longer employed.

That actually depends on whether your employer permits it or not. Some do, most don't.

Name one that does.

[Anonymous]

Roll it over, and do the Roth conversion. You can take up to $10K out of the Roth without tax or penalty to buy your first home (and "first" is pretty flexible, as long as you do not currently own one).