How do I rollover my 401K?

Damondogg

Well-Known Member
I'd like to change it to Roth 401K but I'm not sure if that's a wise thing to do. I know that the company won't match my contributions but I'd just like some advice. Had my 401k for about 14 years now.
 

UpstateNYUPSer(Ret)

Well-Known Member
I'd like to change it to Roth 401K but I'm not sure if that's a wise thing to do. I know that the company won't match my contributions but I'd just like some advice. Had my 401k for about 14 years now.

Your traditional 401k contributions were made with pre-tax dollars while contributions to a Roth are made with after-tax dollars. There is currently no option to roll over your traditional 401k to a Roth while you are still working.
 

oldngray

nowhere special
Your traditional 401k contributions were made with pre-tax dollars while contributions to a Roth are made with after-tax dollars. There is currently no option to roll over your traditional 401k to a Roth while you are still working.
Yeah, you can convert a traditional IRA to a Roth while you are still working but not a 401k.
 

Brownslave688

You want a toe? I can get you a toe.
You can have both if you want. Change your current contribution to 0 and then start your new roth with whatever you were investing in the traditional 401.
Yeah this is what I did a few years ago when they added the Roth option. Zero out the regular 401k contributions. The make all future to roth.
 

olroadbeech

Happy Verified UPSer
i just received a letter from Vanguard Funds where i have my IRA . It says I can rollover my 401k to Vanguard and save on fees and make things simpler.

That got me to thinking about the 401k and SMA fees. Not sure what they are and can not find out on the websites. I already Vanguard fees are very low. Plus my performance with Vanguard funds has done better than the 401k in the last 10 years.


Has any other retirees here closed out their 401k accounts and rolled them over to other retirement accounts ? what did it cost you to do that in closing fees or other fees?
 

UpstateNYUPSer(Ret)

Well-Known Member
Has any other retirees here closed out their 401k accounts and rolled them over to other retirement accounts ? what did it cost you to do that in closing fees or other fees?

I have an account with Edward Jones and our plan is to roll over my 401k within 60 days of retirement. As I understand it there are no fees imposed when doing so.

Shop around----most of the major investment firms offer a financial incentive to roll your old 401k to one of their accounts.
 

1989

Well-Known Member
I'm gonna put mine on my back deck. (It's about 12 high) And give it a push. I think it will roll.
 
I have an account with Edward Jones and our plan is to roll over my 401k within 60 days of retirement. As I understand it there are no fees imposed when doing so.

Shop around----most of the major investment firms offer a financial incentive to roll your old 401k to one of their accounts.
Sometimes the plan that you are taking money out of have a fee.
Document prep fees or whatever they call it.
 

oldngray

nowhere special
I don't think there was a fee when I rolled over my UPS 401k to an IRA after I retired. I did have to liquidate the portion I had in a self managed account and convert everything to cash first and that did involve some fees but there was no cost in moving the cash to a new account as long as it was another retirement plan within 60 days.
 
I don't think there was a fee when I rolled over my UPS 401k to an IRA after I retired. I did have to liquidate the portion I had in a self managed account and convert everything to cash first and that did involve some fees but there was no cost in moving the cash to a new account as long as it was another retirement plan within 60 days.
That sucks that you had to sell your positions
 

Ms.PacMan

Well-Known Member
i just received a letter from Vanguard Funds where i have my IRA . It says I can rollover my 401k to Vanguard and save on fees and make things simpler.

That got me to thinking about the 401k and SMA fees. Not sure what they are and can not find out on the websites. I already Vanguard fees are very low. Plus my performance with Vanguard funds has done better than the 401k in the last 10 years.


Has any other retirees here closed out their 401k accounts and rolled them over to other retirement accounts ? what did it cost you to do that in closing fees or other fees?

Our 401k fees are lower than Vanguard.
 
I do indirectly. My account is with the securities division of my bank and I have a lot of my money in Vanguard funds. There are no extra fees doing it that way and I get the benefit of more freebies from the bank because of the higher balance.
They lowered the amount you need to be in admiral shares. It's only 10k now.
 

olroadbeech

Happy Verified UPSer
Our 401k fees are lower than Vanguard.
Our 401k fees are lower than Vanguard.
I'll just keep the 401k then. thanks. We are not going to start taking out distributions unless there is an emergency and then we would start taking from the Vanguard IRA first anyway. with my and my spouses SS starting soon unless we wait we can let both continue to grow until age 70.

we are pleasantly surprised that the pension has been adequate so far. you really don't need as much in retirement as the "experts" say you do if your house is paid off and you are naturally frugal.
 
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