Ask Terry Questions 401k after retirement

401k after retirement

By Terry Savage on March 26, 2024 | Financial Planning / Retirement

I am 67 and recently retired. I have 500k in my 401k with Principal. Should I keep it within Principal, 300k in mutual funds, 100k in money market and 100k in an ira/cd or is it best to move it to a different financial location/advisor or even my bank where I have an annuity and savings? I don’t need to draw from it right now but will in a couple of years

Terry Says

That depends on your options and costs inside the plan. If you have low cost funds, or a special income-producing stable value fund, you can leave the plan where it is. That assumes you might make some more conservative investment choices within the plan.
But read this article — Rollover Now — to see your other options.

Either way, you’ll have to make some decisions. Just don’t jump into the hands of someone trying to sell you stuff– either at your bank or a brokerage firm.
Ifyou need a FIDUCIARY financial advisor you can trust, try this:



a personal
finance question