401K ROLLOVER to get better choices
I’m 67 yrs old….can I rollover my 401 K from a small business( medical practice) to an investment firm IRA and continuing being employed by small business( nurse)….current plan is not making good yields yearly
Terry Says
No, you would have to wait until you retire or leave the employment to do a rollover.
But every 40l(k) is required to have a variety of investments — though most are designed for growth, and likely more appropriate for a younger worker. But ask the plan provider what is the safest (ie out of the stock market) alternative for ost — but not all — of your investments inside the plan.
Remind the plan provider that they have a fiduciary obligation to provide some conservative investment choices for those nearing retirement.
