401k question

jgrif08 · 06-12-2007, 05:53 PM

I'm leaving my job at the end of the month for a new one that does not offer a 401k plan. No biggie to me as my employer wasn't giving me much of a match anyways.

I do not plan to take a distribution

I fully intend to keep on putting money away for retirement. I'm assuming my options will be A) leave the money in it's current place and keep investing on my own OR B) roll it into some other plan such as an IRA

Am I correct in this assumption?

If so, now that I'm not receiving any sort of employer match am I better of rolling it into an IRA? What are the pro's and con's of an IRA compared to a 401k?

Thanks in advance

aiki14 · 06-12-2007, 08:22 PM

An IRA offers many more investment choices. The rollover is simple and inexpensive, and you'll find the companies offering them will have many "Perks" to lure you in, like free trades or no account fees.

06-12-2007, 05:53 PM	#1
jgrif08 valued contributor Join Date: Jan 2007 Posts: 23	401k question I'm leaving my job at the end of the month for a new one that does not offer a 401k plan. No biggie to me as my employer wasn't giving me much of a match anyways. I do not plan to take a distribution I fully intend to keep on putting money away for retirement. I'm assuming my options will be A) leave the money in it's current place and keep investing on my own OR B) roll it into some other plan such as an IRA Am I correct in this assumption? If so, now that I'm not receiving any sort of employer match am I better of rolling it into an IRA? What are the pro's and con's of an IRA compared to a 401k? Thanks in advance

06-12-2007, 08:22 PM	#2
aiki14 forum leader weekly challenge winner 13x mar/07 simulation winner feb/07 simulation winner jan/07 simulation winner nov/06 simulation winner june/06 challenge winner april/06 challenge winner Join Date: Feb 2006 Posts: 5,328	Re: 401k question An IRA offers many more investment choices. The rollover is simple and inexpensive, and you'll find the companies offering them will have many "Perks" to lure you in, like free trades or no account fees.

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