Ask Terry Questions What fund to rollover my 401K

What fund to rollover my 401K

By Terry Savage on July 10, 2018 | Investments

I have a 401K with Wells Fargo from Carson’ when it was owned by Saks and another from when it was owned by Bon Ton. I need to rollover the Bon Ton one For sure. I’m thinking of putting them both to the same investment company. What would you suggest?

Terry Says

Yes, I think it’s a great idea to roll them all into one. But this isn’t a do-it-yourself project. To avoid tax consequences it must be a direct rollover from one custodian to another. I would suggest calling either 800-VANGUARD or 1-800 FIDELITY and describing your situation. BE sure to have the latest account numbers and statements for both plans. They will handle the rollover.
They will also give you advice on how to invest the money — depending on your age, risk tolerance and retirement plans. And you won’t have to pay extra for the advice; no commissions are involved. Don’t procrastinate!

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