after retirement what to do with a 401k
i just retired after 52 years and have to make a choice what to do with my 401 k , is there a time limit on how long i have to make this choice? will they be able to help me make that choice or should i seek help from another source? my 401k is currently with Fidelity.
Terry Says
First, please read this article: https://www.terrysavage.com/rollover-now/
It will explain how to do a rollover, and why. The main reason is that you’ll have a wider choice of conservative funds, not typically found in the 40lk choices, which are designed for younger workers to grow their money over the long run.
You do NOT have to sign up for financial advice when you do the rollover. I’d recommend half in the Equity/Income fund, and maybe 30% in the government money market fund, and 20% in the short term government bond fund. That should keep your money safe, and growing during the years of your retirement.
