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Originally posted by Porsche-O-Phile
Also good to know. . . My previous employer's 401k was through Fidelity, which had (has) some pretty good funds. One concern about rolling it into a Rollover IRA is that the funds might not be as good - same with a Roth. Guess it doesn't hurt to look though.
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They will do a rollover into the same funds you are in now. You just eliminate the 401k fees.
Quote:
Originally posted by Porsche-O-Phile
The stuff about this employer's 401k or that employer's 401k seems needlessly complex to me - the good thing is I have enough $$$ in the account where I can keep it in there (I checked, there's a minimum amount you need to have to do this, otherwise they'd force you to either cash it out or roll it over, which for me isn't an option since the new place doesn't have 401k benefits yet).
Can I just do something like just set up a corporation to pay myself through and set up my own 401k account under THAT company? That get me around all this kind of silliness and allow me to keep the same 401k account open forever with whomever I choose, even if my employer (or more correctly, the "corporation's employer") changes in the future.
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Not legally, if you don't understand it talk to a fee only financial planner.