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401k rollover

By Terry Savage on November 28, 2022 | Investments

I retired 6/2020. I am 68 years old. I have a 401k and have withdrawn nothing. The company I worked for has ceased operating and I have been advised I need to Roll this over into another fund. What do I do to minimize my tax liability?

Terry Says

You contact Vanguard or Fidelity (1-800-VANGUARD) or (1-800-FIDELITY) and have your account information in front of you.
Tell them you want to do an IRA Rollover. They will move the money directly — with no tax liability.
All you have to do is decide how to invest it. At your stage I’d suggest putting 75% into their “balanced” fund and 25% into a money market fund.



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