401k and Simple IRA question
Hi Terry! I have a Simple IRA with around a $50,000 balance from a previous job, and new 401k and Roth accounts with my new job. I am 50 years old and I have my Simple IRA set for aggressive growth. Should I roll my Simple IRA into my 401k account or leave it as it is? Or do something else with it? Thank you!
Terry Says
I think you should keep them separate. You have more control over your investment choices in the Simple IRA — assuming it is with a low-cost provider like Fidelity and Vanguard. (If not, and you’re paying expensive annual fees) consider a rollover to either Fidelity or Vanguard.)
Make sure you name a beneficiary for each retirement account. And be sure to invest enough to get your employer’s full match!
