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401K transfer options
#400945
09/07/12 02:37 PM
09/07/12 02:37 PM
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Joined: Mar 2008
Posts: 25,974 Prattville, Alabama
Skullworks
OP
Freak of Nature
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OP
Freak of Nature
Joined: Mar 2008
Posts: 25,974
Prattville, Alabama
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The company I work for is shutting down the 401K program. Suggestions on what to transfer it to?
"I'm not near as critical about how big they are as I once was. Smiles are more important now! We will grow more deer." Jimmy G.
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Re: 401K transfer options
[Re: Skullworks]
#400947
09/07/12 02:38 PM
09/07/12 02:38 PM
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Joined: Jan 2001
Posts: 4,100 Grant, Alabama, USA
TR
10 point
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10 point
Joined: Jan 2001
Posts: 4,100
Grant, Alabama, USA
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If Obama wins in November a coffee can in the back yard would be the safest place. Oh, keep out some for ammo.
"Make a difference, take a kid hunting".
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Re: 401K transfer options
[Re: Big Jack]
#400960
09/07/12 02:52 PM
09/07/12 02:52 PM
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Joined: Aug 2006
Posts: 32,451 North Alabama
YEKRUT
Turkey Nut
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Turkey Nut
Joined: Aug 2006
Posts: 32,451
North Alabama
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I transferred mine from the hartford to fidelity about 7 years ago and it has grown well each year. I have averaged 10% growth a year I would say maybe closer to 12%. I will check and see how it is doing this year right now. update: YTD is +19.8% for me. Not to shabby I don't think. I wish I had 100,000 in it, but it is growing and will be there for me one day.
Some men are mere hunters; others are turkey hunters. —Archibald Rutledge—
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Re: 401K transfer options
[Re: YEKRUT]
#400964
09/07/12 03:01 PM
09/07/12 03:01 PM
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Joined: Nov 2011
Posts: 21,789 USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,789
USA
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I transferred mine from the hartford to fidelity about 7 years ago and it has grown well each year. I have averaged 10% growth a year I would say maybe closer to 12%. I will check and see how it is doing this year right now. update: YTD is +19.8% for me. Not to shabby I don't think. I wish I had 100,000 in it, but it is growing and will be there for me one day. Sounds good, but how much did you LOSE around 2007-8?
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Re: 401K transfer options
[Re: BirminghamBuck]
#400973
09/07/12 03:09 PM
09/07/12 03:09 PM
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Joined: Jul 2001
Posts: 8,017 Tuscaloosa, Al, USA
Big Buck Video
14 point
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14 point
Joined: Jul 2001
Posts: 8,017
Tuscaloosa, Al, USA
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Tax-Free IRA Rollover is an option. Make sure that you do not touch the money or you will be taxed. The company should make the check directly payable to the IRA holder (direct-pay) to prevent taxes. This is true to an extent. If they make the check out to you then you have 60 days to deposit it into a rollover IRA before it becomes a taxable event.
�Because a well regulated Militia is necessary to the security of a free State, the right of the people to keep and bear Arms shall not be infringed.�
-Justice Scalia, June 26, 2008
NRA Life Member
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Re: 401K transfer options
[Re: Remington270]
#400975
09/07/12 03:15 PM
09/07/12 03:15 PM
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Joined: Aug 2006
Posts: 32,451 North Alabama
YEKRUT
Turkey Nut
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Turkey Nut
Joined: Aug 2006
Posts: 32,451
North Alabama
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I transferred mine from the hartford to fidelity about 7 years ago and it has grown well each year. I have averaged 10% growth a year I would say maybe closer to 12%. I will check and see how it is doing this year right now. update: YTD is +19.8% for me. Not to shabby I don't think. I wish I had 100,000 in it, but it is growing and will be there for me one day. Sounds good, but how much did you LOSE around 2007-8? I just tried looking back but it only goes back 24 months. I really don't think or remember it being to bad that year. I remember it tanking to like -10 or -12% return for a couple months, but it all bounced back late year and early the next year to put me back in the money quick. I have all of mine split between fidelity real estate and growth. They have been good to me and I plan to leave them there. I know a couple older men of the family who lost 150K+ when everything went to crap. Average Annual Total Returns 2 (%) as of 08/31/2012 Fund S&P 500 DJ US Sel Real Estate Sec 1 Year 21.27 18.00 19.39 3 Year 25.22 13.62 24.02 5 Year 3.60 1.28 2.61 10 Year 11.07 6.51 11.16 Life 10.52 N/A N/A Average Annual Total Returns 2 (%) as of 08/31/2012 Fund Russell 3000 Growth 1 Year 17.99 17.01 3 Year 18.03 15.58 5 Year 5.36 3.63 10 Year 11.00 7.19 Life 12.74 N/A
Some men are mere hunters; others are turkey hunters. —Archibald Rutledge—
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Re: 401K transfer options
[Re: Big Buck Video]
#400976
09/07/12 03:17 PM
09/07/12 03:17 PM
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Joined: Dec 2002
Posts: 3,077 Guntersville, AL
BirminghamBuck
10 point
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10 point
Joined: Dec 2002
Posts: 3,077
Guntersville, AL
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Tax-Free IRA Rollover is an option. Make sure that you do not touch the money or you will be taxed. The company should make the check directly payable to the IRA holder (direct-pay) to prevent taxes. This is true to an extent. If they make the check out to you then you have 60 days to deposit it into a rollover IRA before it becomes a taxable event. Thanks for the clarification. Sorry if I was wrong. I thought the 60 days was how long you could borrow from your IRA without penalty. Didn't know it also included the rollover.
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Re: 401K transfer options
[Re: Skullworks]
#400982
09/07/12 03:28 PM
09/07/12 03:28 PM
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Joined: Jan 2008
Posts: 3,689 muscle shoals
todd w
10 point
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10 point
Joined: Jan 2008
Posts: 3,689
muscle shoals
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Transfer it to a bank held (cd) ira. that way you can get to it if you need it.
It is what it is.
Inspect what you Expect.
Hunting TN, AL, KY, and IL.
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Re: 401K transfer options
[Re: Skullworks]
#401078
09/07/12 06:37 PM
09/07/12 06:37 PM
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Joined: Oct 2010
Posts: 2,885 St. Clair County
Big Jack
10 point
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10 point
Joined: Oct 2010
Posts: 2,885
St. Clair County
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When I retired in '99 I rolled my 401K over into a fidelity account. it was set up at 27%stock, 56% bonds, and 17% short term. I just about always showed some gain but was always a little behind the DOW. I got to watching it a little closer and I discovered that even though I was makind a pretty good return in many of the holdings I was loosing my ass in the Fidelity accounts of which there was always at least 5 or 6. The Fidelity losses were eating up a good chunk of the other gains. When I tried to get them to stop including their holdings, in 2006, they refused so I rolled it over into a local bank IRA. Right now Bank IRAs are a poor investment but mine is at the fixed rate that it was in 06. Check and see who has your 401K now. Fidelity had mine and thats how I wound up with them in '99.
"Its a damn weak minded person who can only think of one way to spell a work." Andrew Jackson
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Re: 401K transfer options
[Re: Remington270]
#401130
09/07/12 08:15 PM
09/07/12 08:15 PM
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Joined: Mar 2003
Posts: 16,021 Hartselle Al.
n2deer
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2003
Posts: 16,021
Hartselle Al.
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I transferred mine from the hartford to fidelity about 7 years ago and it has grown well each year. I have averaged 10% growth a year I would say maybe closer to 12%. I will check and see how it is doing this year right now. update: YTD is +19.8% for me. Not to shabby I don't think. I wish I had 100,000 in it, but it is growing and will be there for me one day. Sounds good, but how much did you LOSE around 2007-8? In 08 my value dropped around 50 percent in my 401k. It was in fidelity also. I was very concerned at that point as I am sure alot of people were. I think that had little to do with fidelity.
Do you want to hear him gobble, or do you want to kill him.
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Re: 401K transfer options
[Re: BirminghamBuck]
#401167
09/07/12 09:23 PM
09/07/12 09:23 PM
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Joined: Sep 2006
Posts: 2,685 West Florida
westflgator
10 point
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10 point
Joined: Sep 2006
Posts: 2,685
West Florida
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Tax-Free IRA Rollover is an option. Make sure that you do not touch the money or you will be taxed. The company should make the check directly payable to the IRA holder (direct-pay) to prevent taxes. You can take a portion of it and put it into a self directed IRA like Equity Trust Company. Their fees are higher but you can invest in things like real estate, tax deeds, collectables, buy up mortgages, loan money, just to name some of the things you can do completely tax free. You can set it up as a traditional IRA and pay taxes on the money you make when you draw it out, or as a ROTH and pay taxes now and all the money that grows is tax free. Back when the market was crashing I rolled some of mine over and bough and sold some real estate with mine. I still have some real estate that I'm sitting on in my IRA waiting for the prices to go back up some before I sell. Tax deeds are pretty good also...
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Re: 401K transfer options
[Re: fromthedepths]
#401215
09/07/12 10:46 PM
09/07/12 10:46 PM
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Joined: Jan 2008
Posts: 3,689 muscle shoals
todd w
10 point
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10 point
Joined: Jan 2008
Posts: 3,689
muscle shoals
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if you move a 401k(traditional ira) to a roth, you will pay alot of taxes.
It is what it is.
Inspect what you Expect.
Hunting TN, AL, KY, and IL.
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Re: 401K transfer options
[Re: Skullworks]
#422504
10/12/12 07:45 AM
10/12/12 07:45 AM
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Joined: Aug 2006
Posts: 32,451 North Alabama
YEKRUT
Turkey Nut
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Turkey Nut
Joined: Aug 2006
Posts: 32,451
North Alabama
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Just checked mine again and I am at +16.1% for the year.
Some men are mere hunters; others are turkey hunters. —Archibald Rutledge—
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