401k after retirement
retired 3 months ago. Have a company 401k. ( part is roth ). Was thinking to move to my privately held IRA. Plan representative said I should leave it alone since fees are cheaper being a institutionalized account. I thought transferring to my personal IRA would simplify things. Even would be same company t rowe price. But i was hoping to combine the roth with my private roth. Maybe representative gets paid more depending on size of company 401 k. thanks for your thoughts. Roth would be combined with fidelity Roth IRA. Thanks
Terry Says
Well, you’re in a good place — T. Rowe Price. Here is an article I wrote about why people should roll over at retirement — basically a wider choice of more conservative investments for this stage of life! https://www.terrysavage.com/rollover-now/
But your situation is a bit more complex. First, I think it might be easier down the road (since you need to leave money in a Roth for 5 years before withdrawing) to keep those two different Roth IRA’s separate.
For the traditional 40l(k) investments, you definitely want to compare the costs (annual mgmt fees) and the choices in the company plan with an individual IRA rollover. I doubt they were trying to keep you in the plan to boost their assets under management, so it’s worth doing the comparisons.
