Has anyone here ever rolled your #retirement / #401K stock into another account? What did you do with your #gold goose
If so, was it a good move? I left a few years ago and need to do something with my account!!!
I have ZERO #confidence in the company. Sorry...
Like others have said, get it the hell out of Xerox. I know all about the legal protections for 401k’s but I just didn’t trust Johnny V. I figured he and his handlers would find some way to declare “an company emergency” with all hands on deck BS to grab all the funds. The Pension I would seriously worry about that because there are things they can do to limit fooling it over and I’m sure they’re hard at work to put an end to exodus of cash. If you had a lot of tenure, you will be very pleased with what a rollover total will equal. I had almost 36 years and had a nice tidy sum.
Moved my 401k and pension to and advisor. I am making the same as I was. Don’t take any chances with your future and get YOUR money rolled over.
I got myself an investment advisor and rolled into an IRA. He has me set up with an age appropriate balance of stocks and bonds. Naturally given the markets of the last few months, it hasn't made any progress but who's is at the moment? I find it compares well with returns of my current, agressively invested 401K. Don't make any decisions without speaking with someone in the know and I wouldn't suggest leaving it where it is personally. Good luck!
I left mine and feel fairly comfortable doing so. I do not like all of my eggs in one basket but I trust a complete stranger that is going to make a commission on my money a lot less than someone that has a fiduciary responsibility to handle my money as is required by an employer. If you are still working, use the Rollover Central material that you received when you left Xerox to move it into your new company's program. If you ever get sued, your creditors cannot go after employer sponsored 401ks. They CAN however go after your regular investments.
If it's a 401K, you don't have to move it because they don't have control. It's the people with pensions that are worried. I left months ago and didn't move my 401K. The market is relatively high right now. If you move and go into stocks you'll be buying relatively high. I would wait until their is a pullback, unless you're not moving onto stocks. My 401K at Xerox returned 21% this year. Won't beat that anywhere else.
I rolled mine the day after I retired 2 years ago. Most banking institutions have gotten into the securities business so I would look to talk to someone where you do your banking. Make sure if and when you look into rolling it over to an IRA you check the fees you’ll be charged. Anything over 1% is questionable. My account has performed really well and is more diversified than my 401K was. Good luck and act soon.
I've actually been reasonably happy with the 401K performance, so left it at Xerox (so far). I did roll my pension into an IRA with an investment firm, but wasn't ready to commit all my eggs to one managed basket (advisor). My 401K is diversified across several funds. I just basically don't want to pay the 1%+ fee most financial advisors charge - and, being a financial advisor must be a pretty decent income, considering how many of them there are in the business.
Not sure how much influence / control the C suite has over the 401K.
You left years ago and didn’t get a professional investment advisor? Move it out and have someone create an income and growth account. You need to take control of your money.