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IRA Rollover

June 7th, 2019 at 07:59 pm

Trying to transfer my funds from one 401(k) to another is like pulling teeth.

First I couldn’t log into my accounts. Next the jerk at one of the firms didn’t send me the rollover forms, and the second one I couldn’t locate the forms on their site. 🙄🤦🏽‍♀️

I’ll tackle it Monday, it’s just so frustrating, I can roll over at least close to $3k and start contributing. My goal is to soon live off of 15% less than I make.

I logged into my BOA account (CC9) and see that I have a credit of $2.30. This is the savings from Michael’s. I wonder if I can ask them to deposit the funds into my checking account?

8 Responses to “IRA Rollover ”

  1. AnotherReader Says:

    Have you considered rolling over the old 401(k) accounts to an IRA? That way you control the investments and the costs. If you have a local Fidelity office, you can open a rollover IRA and they will help you move the accounts from the former employer plans. Schwab has local offices as well.

  2. Amber Says:

    Oops it’s a 401(k) I want to roll over to a Vanguard account

  3. creditcardfree Says:

    Vanguard will help you rollover accounts too. You may just need to follow up. It can take several weeks for the process. At least that was my experience when I worked for a mutual fund company and doing my husband's rollover years ago. You will be glad once the process is complete! Don't give up.

  4. AnotherReader Says:

    Vanguard is ok if you don't need a lot of help with paperwork. I find their customer service to be poor and the website is outdated and clunky. Plus they have high minimums to buy into their funds.

    My experience has been you will get much better service from Fidelity and you will have a local bricks and mortar office with which you can work. You should be able to take the 401 (k) paperwork there and they should do the rollover for you. Their index funds have no minimums so you can be invested in a low cost fund as soon as the money arrives. Have $10 to invest? You can transfer it over and put it in your selected fund. The web site is much easier to use and you will have more investment options.

  5. Amber Says:

    Thanks Another Reader. I did a quick Google search and there is a fidelity investment firm not too far from me. When I was opening the roll over account with Vanguard I didn’t understand the minimum

  6. creditcardfree Says:

    Yes, there are minimums with Vanguard. Good luck Amber, the best idea is to get started and take action towards retirement and you are doing that.

  7. rob62521 Says:

    Glad you are working on those retirement accounts.

    One thing DH and I did before I retired was we figured out what I would draw when I retired and worked on living on what we would actually get. DH had been retired 8 years before me. It really helped us see if we could do it and in case something else came up could we still put money aside. We found we could so when I retired, I wasn't as worried as I might have been.

  8. AnotherReader Says:

    Another thing that will help you visualize what you will need for retirement is to take a hard look at what your Social Security payment might look like. Go to the Social Security website and set up a MySocialSecurity account. Once you do that, you will be able to see your earnings history, which you should look at to make sure it's correct, and the projection of your payment at age 62, your full retirement age, and age 70, assuming you continue to work and earn the same income. Assuming the rules don't change, that gives you an idea of how much additional income in today's dollars you might need to be ok.

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