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Chan790

(20,176 posts)

2. You have the right to rollover whatever balance you have (with some limitations) to an IRA

Reply to still_one (Original post)

Thu Jun 13, 2013, 08:12 PM

Jun 2013

Any licensed financial adviser can help you with that and will know what those limitations are. (Usually they have to do with how much of a balance you have to leave in the 401K (usually enough for your employer to be able to reverse the current quarter's employer-match if you're fired.)...which you do not want to close anyways as you want to continue to collect your paycheck deductions with employer match.) An IRA will always give you more options and control over your money...also are typically financially advantageous for other reasons...lower fees among them.

Go in to your bank or CU and ask to speak to someone about your options.

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So what is a person to do if their 401k plan only offers funds in stocks or bonds? If interest [View all] still_one Jun 2013 OP

For safety, find the shortest-term bond fund you can find. reformist2 Jun 2013 #1

I agree, if you need a safe harbor badtoworse Jun 2013 #3

You have the right to rollover whatever balance you have (with some limitations) to an IRA Chan790 Jun 2013 #2