Husband recently took early retirement what should we do with his 401K? | 401k Questions

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Asked 9/13/2010

Husband recently took early retirement what should we do with his 401K?

My husband recently took early retirement and is now self employed. He is being charged and annual fee from the company that manages his 401K. Would you advise moving it? And where would you advise investing it?

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Answer 1/3 - Submitted 9/15/2010

Your husband is probably around age 62. He does not have to take the required minimum distribution. He will be required if he turn 70 and a half. I would roll it over to an IRA account since his 401K charge fees.

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Answer 2/3 - Submitted 1/23/2011

Roll it into an IRA, take what you need when you need it. Go on vacation and enjoy yourselves! You can't take it with you, so be frugal yet have FUN!

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Answer 3/3 - Submitted 1/23/2011

Most of the major brokerage houses do not charge fees for IRAs. Check out Fidelity, Vanguard and Charles Schwab, for starters, to see whether it would be a better deal for him to move his 401K to a firm like one of those.

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