Hello,
I would appreciate anyone's thoughts or suggestions for the following situation.
I am switching to a new employer in two weeks, and I am not quite sure what to do regarding investment options. My new employer offers a 401(k) plan with Fidelity, but the "kicker" is that it is all based upon employee contributions. In other words, there is no "employer match" to the 401(k). Also, the options within the plan appear to be weak (i.e., not much variety and pretty high mutual fund account fees).
Here is some additional background that may or may not be useful. With my previous employer I have a SEP-IRA with total funds of $179k. I also have a ROTH-IRA with roughly $36k. And lastly, I have my own individual investments (post tax) with Vanguard with index funds to a tune of about $172k.
My goal is to be FI in approximately 5-8 years. My current annual living expenses after taxes total to about $20k. My after tax income is approximately $62k, which would allow me to save roughly $44k per year to contribute to any investments (i.e., either personal or thru work).
So any thoughts or ideas based on the above scenario? Should I skip the company 401(k), again there is no employer match and the funds don't appear to be very attractive? Would I be better off converting the SEP-IRA into an Individual IRA, assuming this is possible?
Thanks in advance for any direction or suggestions that might be provided.
Warm regards,
FIN