I am by no means a millionaire, but it isn’t chump change either. Curious to hear what have folks been doing. I completely understand the urge to leave/rollover to another firm, but are the fees/terms as favorable?
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I had the same call, but I researched and the 401k at Schwab is not bad. Otherwise I would just move it but won't do it just for spite. Very happy to cash out all the options and probably will move any remaining brokerage funds as soon as I find something I'm interested in.
I was laid off. As soon as I get my next role, I’m transferring everything out. It’s not huge but it’s not nothing. ~$250k between 401k, IRA, HSA and individual brokerage.
I had to move my accounts to Schwab when i got hired. My spouse’s retirement accounts were in Vanguard. To be honest, the IRA and investment funds are not bad at Schwab when I compared how the two accounts did. But I did consolidate my 401k and IRA accounts and moved most of it to Fidelity. Also moved my HSA to Fidelity. Reason is simply that Fidelity HSA is the best in business and Fidelity’s sweep accounts pay decent interest so your money isn’t losing value due to inflation. I did keep a small chunk at Schwab so that I could use the Schwab trading platform which is better. The main reason I would move out my funds is because of their bank account yields which make a difference especially for folks who keep a bunch of money for liquidity. Also Schwab is a public company and is too turbulent.
Moved every single dollar out. No more fees from my household.
I did not disparage, but at Thanksgiving some in my family felt compelled to move as well.
Vanguard and Fidelity both offer great options depending on your investment needs and preferences.
But hey, win win monetization.
After being laid off, they actually had the audacity to call me to try to keep the funds at Schwab. Was planning to just leave it, but not now.
How much does Schwab make off of our 401ks?
I moved that sh*t out on 11/1. FCK Schwab, FCK the leadership, FCK all the B@ll licking kiss @$$es
Transferring out…and buying SCHW puts…can finally short this POS
Moving all to Fidelity, including the HSA...In Progress already
It may not matter, but I don't want to have anything managed or kept by Schwab, moved my IRA rollover and brokerage account both to fidelity, Schwab asked for a reason, I said Schwab su-ks! :)
What are some recommendations for HSA custodians to move it to?
It is a simple rollover to an IRA (one for 401K Roth funds and one for 401K IRA funds). The cost for the account would be the same as any other brokerage. For Schwab and Fidelity it is 'free'. For Vanguard there is an account fee, but that can be waived fairly easily.
The other account to review is your HSA. You have the option to transfer that to another custodian as well.