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Asked 1/6/2009

I was laid off. Should keep the money in a 401K account or do a "Direct Rollover" into IRA?

My vested value is well over $5000. I can no longer contribute money into my 401K account and I don't know whether to keep it as is, directly roll it over to another IRA I have
"Fidelity" or roll it over to the same company's "TransAmerica" IRA. Any advice would be helpful. Thank you!

 
 
 
 
 
Answers

Answer 1/4 - Submitted 1/6/2009

It depends on your age, when you will retire, etc. Speak to a representative at Fidelity. They always gave me good advice regarding my 401k

 
 

Answer 2/4 - Submitted 1/6/2009

Thanks, I will call Fidelity. The representative at TransAmerica said he could not give me advice.

 
 

Answer 3/4 - Submitted 1/8/2009

Fidelity has many more options for you. They will have a lower fee schedule too. You have a relatively small balance, so it would make sense to combine it into an IRA you already have. Its fairly easy to forget you have something over a few decades.

 
 

Answer 4/4 - Submitted 5/2/2009

 
 
 
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