Reply to Move 401K Funds out of Employer Account to IRA Managed by Advisor?

Forum Index » Money and Finances

Reply to "Move 401K Funds out of Employer Account to IRA Managed by Advisor?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I’ll be in similar situation but I don’t have CFP. Some things to think about:

An AUM of .5% is on the low end. For you, that means each year your CFP gets $15K. There are other ways they may make money off your accounts. You should also look at the GE fee of each fund they put you in. With typical low fee funds, this might be .03. Funds with fees that are .4 or higher aren’t ideal.

Your DH should contact his HR and find out if he can keep his 401k with his employer and exactly what his fees would be. For me, my fees would be around $700/year for 1M. Thats nothing IMO.

You should also check his 401k to see what funds he is currently in and if they are low fee.

With that much in 401k, you will be “tax bombed”. You will need to read up on conversions.

There is a ton of information to be learned at this point of life.  Bogleheads is a great resource. [/quote]
Rolling over a 401k to an IRA does cause a tax bomb. I just did this this past year.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics