401k
I’m 65 and got a late start with retirement saving. I currently work for a large company with a 401(k) plan managed by Empower. I’m currently averaging around a 10% return which seems pretty decent. The other day, I heard someone talking about rolling over some of their 401(k) money into an IRA that they could manage themselves. I’m not sure I want to do that, unless there is a larger benefit by investing in other things like bonds. I don’t have the time to be a money manager. I’d be looking for something that would get me a greater return by just leaving it. It’s also unclear what the feast structure is with Empower and maybe with another company that doesn’t charge commissions or high fees might be a better option. Just looking for your expertise. Thank you.
Terry Says
Wait, you really do need to do some study. If you are currently working with a company, likely they will not allow you to rollover part of your 40lk — even if you are age 65.
AND, Empower is a fine plan manager, likely with relatively low costs.
Just keep saving and getting the employer match. Don’t try to get fancy!!
