Thread regarding AT&T layoffs

My Fidelity 401k was converted to a Fidelity rollover IRA which had more flexibility and options for investing. To save money, I have Goldman Sachs managing my investments at Fidelity because their fees were much lower than Fidelity managers.

Actually since it was doing nothing, I took most of it out over two years and paid my house off. Now at least I have a place to live.

My financial advisor moved it. I thought I had to.

Which ones? The expense ratio is see is minuscule and smaller than my personal fidelity account

Don't hold your breath - he hasn't done any research. If and when he does, what he learns will keep him silent

Most of the funds in AT&T's 401K plan have a high expense ratio

Which ones?

The expense ratio is see is minuscule and smaller than my personal fidelity account

Depending on your state rolling to an ira may expose you to loss if you lose a lawsuit. 401k is protected

Rolling to ira also makes any future rollover to Roth IRA difficult

And as people mentioned retiring between 55 and 59.5 you you’re better off leaving it in the 401k for access

As always consult your financial advisor. Or YouTube.

Sad that people ask questions like this on this type of forum. Just scroll through these posts and then decide if this is a good place from which one obtains truthful, common sense…let alone finance advice for your retirement!??? No!!!!

Offer me something that I cannot simply do myself. I don't mind paying a 1% fee or something if there is a clear value to me (other than hands-free management). I don't hear back any good response.

This level of services generally won't pencil out for portfolios of less than ~5M. Few working for T will clear that bar.

How do stock brokers do compared to everyone else? ... Making tons of money supposedly managing other people's money when they don't beat the market averages themselves. Seems to me anyone who pays money to someone to manage their money has been duped. Invest your own money directly in stocks and get all the gains and dividends yourself. Also, don't pay mutual funds a dime just for diversification you can do on your own just as easily. Back when stock trades cost $30 round trip, it may have made sense. Now trades are free so do your own.....

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why move it? The AT&T negotiated expense fees are much better than Fidelity's regular fees. Moving out of Fidelity to Vanguard etc. -- do check fees - on Index funds the difference is not much. Target date funds - do compare their fees against AT&T negotiated fees.

I have spoken to various Fidelity and her financial planners wondering if they can help me do better -- maybe they have some unique options in "managed only" options. They do but they are often funds of their funds - and I understand that in that case, we pay fees for constituent funds as well as the umbrella fund.

I often tell them that do not offer me on Asset Allocation models -- those I can do myself. Offer me something that I cannot simply do myself. I don't mind paying a 1% fee or something if there is a clear value to me (other than hands-free management). I don't hear back any good response.

Why move it? If you are under 59 1/2 but close to 55 you can withdraw a steady income from your 401K only if you get fired or retired in the year you turn 55 or later. Fidelity has a ton of investment options. If you have $1M plus in your Fidelity account you get a personal manager/advisor for free .

Please don't take financial advice from this forum. You will need to connect with a wealth manager to evaluate your needs and what is the best path.

who moved it? They had to have your permission. Fidelity is fine. Check fees. The target date fund fees are terrible. Index funds are better. Brokeragelink account at fidelity allows you to invest in anything fidelity offers, as someone mentioned. Call fidelity and talk to them.

If you have a brokerage account set up in your Fidelity 401K then you have access to all mutual funds, CEFs, ETFs, Stocks, etc not just a few funds as those who are unknowledgeable state in these posts. You will pay a quarterly fee which is either $6 or $8. I roll my 401ks when I leave companies into an IRA Rollover at Vanguard because the Vanguard indexes have low expense ratios. Trades are free and you get some benefits as a Flagship ($1M to $5M) or Flagship Select (over $5M) in Vanguard Assets: All Vanguard clients pay $0 commission to trade ETFs (exchange-traded funds) and stocks online. You also have access to more than 160 no-transaction-fee mutual funds from Vanguard and more than 3,000 funds from other companies

Open an IRA with Fidelity and move it way more options for them to invest and make your money work than the 10 or so choices of a 401K

I think some shark advisors made you do that. Once they smell money they will fo anything to to seduce you with promise of big returns.

Most of the funds in AT&T's 401K plan have a high expense ratio. Way too expensive. Vanguard is by far cheaper than what Blackrock offers. Take your 401K lump sum and roll it over into a traditional IRA and either manage it yourself, which is cheaper but you need to know what you are doing (not that hard), or have a pay-as-you-go advisor.
Fidelity offers a lot of funding options with far less expense ratios outside of the ATT umbrella's 401K offering.

Why would you move it.....smh.

Why would you move it:

• For the sake of moving it?

• For the sake of losing your ERISA rights?

• An influencer crawled in your ear?

Why exactly?

Coffee cans. Buried in the yard.

Metal IRA.