The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: JLee on January 26, 2015, 04:07:34 PM
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I have ~$24k in the NH State Retirement system, but I am no longer working there / contributing. I earned interest for two years, but now it's (way) past the time it's beneficial for me to leave it there. I'm very new to investing stuff and I am not sure what to do with it once I transfer it out of there. Is this something I should just roll into my company's 401k, or could I convert it to an IRA, dump it in a Vanguard index, or...?
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It depends on what kind of options you have in your 401k. If it were me, I'd open an account at Vanguard or Fidelity and roll it into an IRA. Choose a mix of low cost index funds and you'll be set. Just call one of the companies and they can walk you through the process. Through your career, as you leave different employers, you can roll your 401k into the account(s) you set up at Vanguard or Fidelity.
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It depends on what kind of options you have in your 401k. If it were me, I'd open an account at Vanguard or Fidelity and roll it into an IRA. Choose a mix of low cost index funds and you'll be set. Just call one of the companies and they can walk you through the process. Through your career, as you leave different employers, you can roll your 401k into the account(s) you set up at Vanguard or Fidelity.
Okay, thanks. I have my current 401k with Vanguard and ESP through Fidelity, so I'll look into rolling it into an IRA with Vanguard.