Quote:
Originally Posted by XutvJet
Take your old 401k money and open a traditional IRA with Fidelity, Vanguard, etc. Buy all S&P 500 index funds with the teansferrd proceeds. DO NOT BOTHER with the company 401k if you don't plan to stay if you stay long enough at the company to be fully vested in the plan (usually 2 years of employment).Take the 15% you were going to shove into the company 401k and save it until you get the minimum thresholds to open a Roth IRA and a brokerage account with a Fidelity, Vanguard, etc (typcially $3000-5000). Buy S&P 500 index funds for both.
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I'll have to call Empower to see if I can withdraw money from my old 401k and open a traditional IRA with fidelity. I think I called them a while ago and I have to for some reason pay a $2k "fine"? From what I remember, I enrolled in a ROTH 401k. So, taxes should not be taken out