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

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[quote=Anonymous][quote=Anonymous]You may not be able to. Check for tax consequences. I was not able to move mine without tax consequences until I retired. I’m not a financial person so I can’t explain why and I don’t recall what I was told.

That being said, we make a much tougher percent on our money with our money manager. And they provide a lot of advice about the market and retirement spending, required distribution and investing. We aren’t there yet - both still working and not 70. But we know what to expect.

So I guess for me, I really like having an advisor which didn’t come through my employer managed money.

One other thing. With $3m your fees may go up. But if your returns are better and the services you get are better it may be worth it. [/quote]

You can always move a 401K to an IRA without tax consequences when you leave a job (and retirement is just that).  You just must make sure it's a direct transfer to the IRA (and not to you yourself)

It almost always makes sense to NOT leave it at the former employer.  Even if you transfer it to Vanguard/TRowePrice/some low fee company, you will have many more choices for investments.

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