401k
Hi, my husband has a 401k that he established at a job he had 2 yrs ago. It is still at the same place, but he doesnt work there anymore. He is not contributing anymore. What should he do? Keep it at the same place or move it? His current job doesnt offer 401k. Thanks in advance.
Terry Says
I would suggest you do a direct rollover to a place like Fidelity or Vanguard. Just call them at 1-800 -FIDELITY or 1-800-Vanguard, explain your situation, and they will handle the rollover directly– you do NOT take a check! They will also give you some advice about which mutual fund(s) to invest in, depending on your age and your openness to risk.
And since your husband is no longer covered by a workplace retirement plan, he should set up a new IRA at the same time for current years. And what about you???
