Author Topic: What do I do with all these accounts?  (Read 911 times)

please

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What do I do with all these accounts?
« on: August 25, 2015, 07:33:59 PM »
I've had 3 different jobs since I graduated college, and with that I've ended up with a handful of different retirement accounts. At this point I have a Traditional IRA & Individual Investing account (just a few play individual stocks) at one bank, a SIMPLE IRA from my last employer at Vanguard, and a new 401k for my newest job at another company.

I'd love to push everything into Vanguard since it has such a good reputation, but figuring out what I can move and what kind of implications that will all have is a lot to figure out.

I believe I can move the SIMPLE IRA 2 years after the first contribution from my employer, which was on 04/22/2013. Am I best off opening an IRA at Vanguard, moving the SIMPLE into that, then transferring everything from my Traditional IRA as well? Also, since the market is dumping right now, will I lose money in the process?

Thanks for the guidance.

Frankies Girl

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Re: What do I do with all these accounts?
« Reply #1 on: August 25, 2015, 08:41:54 PM »
I don't think you can move any account through a current active employer, but all accounts that are from previous ones can be moved with just a little paperwork.

Move everything over "in kind" and you shouldn't lose anything specifically from the transfer (but you'll still lose if the market continues down no matter what). You can sell off the funds after they're shifted over if you plan on selling them anyway.

please

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Re: What do I do with all these accounts?
« Reply #2 on: August 26, 2015, 07:06:38 AM »
Thanks, that's good news. I will contact Vanguard and see if they can help. I believe you are correct, the 401k is stuck with the employer, which is fine.