Author Topic: Rant - Investor Problems - Rolling 401k's during the dip  (Read 1270 times)

karmatroll

  • 5 O'Clock Shadow
  • *
  • Posts: 4
  • Age: 30
  • Location: Orange, Texas
Rant - Investor Problems - Rolling 401k's during the dip
« on: August 26, 2015, 07:20:40 PM »
Rant/

So I left a company with a piss poor 401k plan (6% matching, but minimum 1.15% fee) in June.  I figured that I wanted to finally get around to doing this 401k rollover to Vanguard.

So I tried to investigate, thinking that it should be a simple "talk to Vanguard and get it rolled over"

But noooo.  Apparently rolling over 401k's haven't caught up to the 21st century.  I had to get a form from the plan administer of the old company, so they could get the plan to cash out so they can MAIL A PHYSICAL check to Vanguard...

Finally got around to turning in the paperwork 8-19-15.  I was told that because of numerous layoffs, the process could take up to 30 days.

I log into Mint, and it says the last data it has for that 401k was Tuesday 8-25-15.  I go to log into my account, and apparently I can't do that anymore...

So it looks like I may have unintentionally cashed out my 401k to roll it over when it was at 10% down compared to base contributions +match .... 

At least it's out from under the oppressive fees, but the check will take 1-2 weeks to process into Vanguard assuming everything goes well, and I fully assume that there'll be some rebound by the time it actually processes.

At least I'm investing....

/rant

cloudsail

  • Pencil Stache
  • ****
  • Posts: 553
Re: Rant - Investor Problems - Rolling 401k's during the dip
« Reply #1 on: August 26, 2015, 07:36:07 PM »
If it makes you feel any better, I initiated my rollover earlier this year.  The funds came out on a low day, and it finally made it into Vanguard when the Dow was at an all-time high.......

Also my husband has a bunch of money in 401(k)'s that he needs to roll over.  I set everything up and emailed him all the instructions, then one day when the Dow was over 18000 I texted him to initiate his rollover.  He didn't do it, and we haven't had such a good day since.

brooklynguy

  • Handlebar Stache
  • *****
  • Posts: 2204
  • Age: 39
Re: Rant - Investor Problems - Rolling 401k's during the dip
« Reply #2 on: August 27, 2015, 07:40:13 AM »
Here's a thread I started last year to explore ways of mitigating this risk:

http://forum.mrmoneymustache.com/investor-alley/protection-against-forced-market-timing/