Wife retired from job has 401k
hi Terry, my wife and I are 60 years old. She quit her job as a cosmetologist and has a 401k with the old company. She is working at home now. Should we get the 401k out of the plan and move to something else? Since she is not ready for social security or really “retired”, is there anything special we need to do to move this into something? What would we move the 401k to? IRA? Thanks.
Terry Says
She might be able to leave the money where it is, but the plan might have higher costs than doing a rollover to Fidelty or Vanguard, andjust choosing a conservative mutual fund to keep the money growing over the long run.
Read this: https://www.terrysavage.com/rollover-now/
