401K
Terry my son left his last job where he had a 401K. His new job does not. What does he need to do with his 401K now. Thank You
Terry Says
He should do a direct rollover to a place like Fidelity or Vanguard.
Read this: https://www.terrysavage.com/rollover-now/
But I’m surprised the new job doesn’t offer this benefit. At the very least, he should open an Individual Retirement Account, as well as the rollover account, at Fidelity or Vanguard, buy the S&P 500 stock index fund, and contribute the maximum. In 2025 he can contribute up to $7,000 assuming he earns that much.
