What did everyone do with their 401K after they were laid off from Nike? I'd like to know if its better to keep it all there or to roll it over into a traditional IRA where I cane make more investment choices. I'm having a hard time figuring out what the administrative fees are and if Nike 401K has institutional share classes that would be cheaper than a traditional IRA. Thank you.
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Highly likely you would pay more fees if you exit fidelity under Nike plan. Unless there is something out there that is compelling you to invest in that Fidelity doesn't have which is not likely.
Agree with the last post, roll it over to “Rollover IRA”. Then self direct the investments. If you have no idea what you’re doing, dump it in FNILX and don’t touch it until about 5 years from retirement.
Open a brokerage link acct with fidelity they will tie it to your 401k. You can then invest in anything you want through fidelity.
I believe that the annual maintenance fee for keeping the Nike 401k after leaving the company is only $40 per year, or $10 per quarter. The question is whether the Nike 401k has the investment options that you want. If it doesn't, you might as well roll it over to a self-directed IRA where you can put the money into the investments that you want.
Great question, My Nike 401k performed well over the year sand when I left Nike I kept it there for another 7 years, I wanted to see if my new company 401k would outperform the Nike one and through the course of 6 years my new company did out perform my Nike 401k by about 2%, so I finally pulled the trigger and rolled it over last year and it has performed better in my new company. The biggest reason I held out was the profit sharing piece however it wasn't really that much of the whole portfolio. It all comes down to the investment choices which I have tend to be aggressive