Calling those who have rolled over their IRA from a previous employer to a new acct

[jerseygirl07067]

About 5 months ago my employer was bought out by another company. I agreed to stay on with the new employer but am not sure how long I will stay, so I do not want to roll it over there. I also prefer not to let it sit, so I can manage it better and continue to contribute. So I have to decide where to rollover my IRA from the previous employer. I am considering rolling it over into a Fidelity IRA or into E-trade to start an IRA there. I already have a Roth with Fidelity but it is my understanding since this is an IRA I have to keep it that way so I don't get penalized. Which was my plan anyway.

DH rolled his IRAs from previous employers into E-trade. I'm just starting the research on my options and was curious as to what others have done. Clearly I research things more than him. :) To be clear, I'm not asking about particular funds, I just want to know what institution you rolled your IRA into and how was the process. I had been with my previous employer for 24 years so this is new to me!!

[sariana]

I rolled over into Fidelity (like you, I already had another account there). I've always found them easy to work with.

DH has at least half a dozen different accounts at Fidelity because of all his job changes and rollovers.

[belovedgandp]

With 24 years of employment history, I'm assuming this is a decent sum of money. I'd definitely roll it over. You'll have much more control to pick those different funds. I'd ask around for someone local you can talk to. I found our Edward Jones lady because she was teaching a continuing education class on investing at our local community college. I liked her and that's why DH and I rolled our accounts to her. She explained things and having a real live person to plot out my retirement and college saving plans made me feel better.

[legaleagle]

We have a a small financial management firm so I don't worry about picking the investments. They use schwab & ameritrade, fwiw. With any institution it should be no big deal, this happens all the time and they have standardized forms. Be sure to update your beneficiary designations and coordinate with any language used in your Will/trust.

[ang79]

DH handles all of our retirement finances. We use Fidelity and he has been happy with them.


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[specialp]

I rolled mine over to vanguard because I had a current account there. I rolled DH's over to fidelity because he had a previous rollover there from his college job. I think I had to get a form from previous employer's HR and then fill out the forms for the new investment. Quick and painless.

[pharmjenn]

All of our accounts are with Fidelity, including an inherited IRA that I moved from another, small agency that my Aunt used. My father uses mostly Merrill Lynch, so I have stocks there as well.
I really like Fidelity, and find their advisers very knowledgeable and helpful when I want to change holdings.

[pharmjenn]

All of our accounts are with Fidelity, including an inherited IRA that I moved from another, small agency that my Aunt used. My father uses mostly Merrill Lynch, so I have stocks there as well.
I really like Fidelity, and find their advisers very knowledgeable and helpful when I want to change holdings.

[lizzywednesday]

I rolled everything over to Fidelity because that's where DH has his non-work accounts. I had a pension and a 401(k), and was fully vested.

Ultimately, I just wanted to know that my money was growing.

We took a small payout for bills and other essentials at the time of rollover, so there were tax implications, but we knew that going in.

[dogmom]

Rollover to a Vangaurd index fund and be done with it. If you really want to be simple pick a Vangaurd Target Retirement fund, it indexes your investments by year of retirement date. I use it for my kids college funds also, with their graduation date. Then look at it once a year.

There is overwhelming information out their that managed funds do no better, and often worse than index funds. Once you add in higher management fees you are looking at potentially large differences in money.

The actually roll over process, we have done it more than once, was so painless I don't even remember the details. We also just took money out to buy back years of service did my DH from his new town government job and it was one piece of paper downloaded from the website.

[abh5e8]

I second what dogmom said! We love vanguard index funds. Easy, cheap and excellent results.

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