Author Topic: What to do with retirement accounts from different jobs  (Read 1822 times)

msafyan

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What to do with retirement accounts from different jobs
« on: October 02, 2014, 01:03:56 PM »
Hi everyone,

I have 401/403 types of accounts from 4 different jobs over the past 15 years. These are not huge sums but collectively about 100,000$. I guess, I could leave them all with the various companies, and just keep a tab of the quarterly reports, but am wondering if there is something else I should be doing? 
My question is whether I should leave these as they are, or combine them? If the latter, what are some suggestions for where to go with them?

Thanks in advance.

TN_Steve

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Re: What to do with retirement accounts from different jobs
« Reply #1 on: October 02, 2014, 01:12:05 PM »
I'd recommend rolling them into one Vanguard IRA via a trustee to trustee transfer (i.e., get it sent directly to vanguard without a check touching your hands).  Or, if you have a mix of Roth and nonRoth, two IRAs. 

Do that, pick out the appropriate index funds or ETF(s), and let it ride.

CanuckExpat

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Re: What to do with retirement accounts from different jobs
« Reply #2 on: October 02, 2014, 01:19:20 PM »
The standard advice would be to roll these over into a self-directed traditional IRA, i.e. through Vanguard.

If you are currently employed, you may also want to consider rolling them into your employer's 401k plan under certain situations (your 401k plan has even lower fees than a Vanguard IRA, you are high enough income to consider a "back-door ROTH", you need more asset protection).

Calvawt

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Re: What to do with retirement accounts from different jobs
« Reply #3 on: October 02, 2014, 01:24:36 PM »
Look at the fees associated with them as well.  Bigger employers often pay all the fees, so if you like the choices you can leave them for now.  I must mention I mean the plan costs, not the individual fund fees.

I would probably move them all to scottrade.


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MotoMM

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Re: What to do with retirement accounts from different jobs
« Reply #4 on: October 02, 2014, 04:54:06 PM »
Like the others recommended, what I did was roll them to a Rollover IRA with Vanguard.  My old plan sent the funds directly to Vanguard.  Easy, and I already had accounts with Vanguard so it's one less thing to keep track of.

dodojojo

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Re: What to do with retirement accounts from different jobs
« Reply #5 on: October 02, 2014, 05:05:04 PM »
I'm undergoing the process of rolling over old 401b accounts into my current 401k plan.  I opted for the 401k over an IRA because of the added protection against creditors and the investment choices.  My current employer plan has multiple index funds with fees lower than Vanguard's.