i recently got laid off. for bhge 401K plan, is it better to leave it alone or rollover to a brokerage firm?
7 replies (most recent on top)
Roll it over into an IRA. It is your money, take control of it.
Cash it in and meet me at the Dog
Base your decision on the investment decisions you have, as well as the administrative fees. You may find (especially if you really don't want to change how it's invested) that the fees are lower where it's at. Good luck!
Depends, for US citizens over 55, if you leave it in the company’s 401k then you can make withdrawals without paying 10% penalty. If you roll it over to a IRA, you can still make withdrawals, but you will pay 10% penalty.
After 59.5 years old the 10% penalty disappears.
If you are under 55, you he choice is really yours on what you prefer as far as investment choices.
Roll it over to fidelity or vanguard. You'll have more choices and probably better expense ratios.
Depends on your age. If you are over 55 1/2, roll it over. Do not let them keep it. They did not want you so why let them keep your money? Find a good financial advisor and roll it into an IRA.
Spend it on drink . Al least up be happy