Phoenix Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
401K Rollover
Hello Ladies!
So...I'm leaving my job, as you know, and at my new job, I can't roll over or contribute to me 401K for 1 year.
I have a decent sized 401K plan now that I'm trying to figure out what to do with. I want to roll it over into a IRA.
Currently it's sitting with Merill Lynch, and I can keep an IRA with them and with my balances should incur any fees other then buying into a stock/mutal fund with an upfront sales fee or commission.
I called my credit union, but they're small and I'm not quite into their offerings.
Does anyone have any recommendations on where to look into or what to do?
Thanks Ladies!
Re: 401K Rollover
I know absolutely nothing about this kind of stuff but I had to put my 403b from my last employer into something so DH's friend, who works at Charles Schwab, helped me. I have one Roth IRA and a regular one. I contribute to one now where I pay taxes now but not when I retire and the other one just holds my 403B money to grow.
This may be all non-sense and not helpful to you but I could give you his name and # if you'd like. I'm sure he could point in the right direction??
:::Eyes Aaron for a response::: ;-)
Ray and I met with a financial planner this year. It has helped us a LOT with our retirement goals, 401K stuff, and tuition planning options for Bella. Totally worth the money IMO. Ray's stocks at work are now earning a lot more money than they had been (knock on wood!). We met with someone from Waddell & Reed (she is married to a friend of Ray's from work), and she and the the main guy at the office put together a really great plan for us.
Not to push anything, but just a thought. I am completely clueless about this stuff. Ray knows a lot more than I do, but neither of us are even close to experts.
Ya, Meril Lynch comes with financial planning but I LOATHE B of A.
I just don't know who to call. I used to have a FA but... ya... no thanks. Aaron feels I should go into an IRA (Stace- i cant roll my 401K into a roth IRA because it was all pre-tax income, roth = post tax, with the idea that later in life you'll be at a higher tax bracket
).
I'm gonna do some calling around...
I have a Roth IRA with T-Rowe Price to supplement my state retirement savings. I've been happy with them so far. I went with them because they maintain my husband's 401k, and we figured it would be easier to deal with one company. I still have an old 401k hanging around from my previous job, and I've been meaning to roll it over into a traditional IRA with T-Rowe Price forEVER.
We've always wanted to work with a financial planner, but I've had a hard time finding an independent one (you know, one that won't be trying to sell me all their company's products) or who isn't really pricey. Our finances just haven't been complicated enough to justify the cost at this point, although I'm thinking about it again with college savings funds looming in my future. Let me know if you end up finding someone good that you like.Will they not let you keep your 401k open with them for the next year? That is what I did when I switched companies, I left my 401k where it was and I was still able to contribute to it (obviously with no contributions from my employer), then once I was able to join at my current company I moved it.
If they will not let you do that then I have heard (and this is in no way professional advice) that a Roth IRA is a good thing to have.