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401 k — not paying attention, need to roll over

By Terry Savage on July 18, 2021 | Financial Planning / Retirement

Hi, I have 3 401ks from different employers. I don’t know passwords as I never updated info when I was employed and if I did, at this time I dont recall them. I still get statements etc in the mail. Its time I do something with them , but I don’t know what or how to access. Who would I look to for assistance? Thanks, I should probably know this but I guess I never worried about it knowing they were set up. But I’m 57 now and better take charge.
Signed, late to the party

Terry Says

Well, you know what they say: “Better late than never!”
Contact Fidelity at 1-800 FIDELITY. Tell them you have several old 40l(k) plans you want to roll over into an IRA Rollover account. Give them the information on your latest statement — employer name, contact info, account number, etc. They will handle it for you.

Then you have to decide how to invest. I suggest half in the equity-income fund (at your age) and maybe 25% in the S&P 500 fund, and 25% in a money market fund. That should let you sleep at night and not panic when the market declines. If you are tempted to panic, remember you went all through the past two years without selling –and now the market is at all-time highs! Keep with your investment program in the future as well.

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