Old 401

By Terry Savage on May 18, 2024 | Financial Planning / Retirement

Hi Terry, I’m 68 retired and have a 401 from my ex-employer that I haven’t touched. It is back to where it was in 2022 and I would like to move it to something that will not loose value but still by tax deferred. It is about 85 to 90 k

Terry Says

First read this:  Rollover Now – Terry Savage

You can do this on your own — don’t need a financial advisor to charge you for this process.  But then, once you do the rollover, you have to make some investment decisions for the money. Start the rollover by putting it all in a money market fund.  You are relatively young, so you might want to move half into a “balanced fund” or “equity/income” fund — but not all at once.  Maybe tell them to move about $10,000 on the same day every month — for five months.  Leave the rest in a MM fund.



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