jpeter1093
Recycles dryer sheets
We've been talking to Vanguard to take advantage of their Personal Advisor services. I'm retiring in March, 2019 at 63. My DW next month at 60. I was told by our Vanguard rep that our funds would be transferred in kind. To me, that meant, if I had Fund A in my 401(k); they would just transfer ownership to Fund A in Vanguard. However, when my rep transferred me to a transfer specialist at Vanguard, he said, my 401(k) would be liquidated, a check sent to Vanguard and Vanguard would buy new funds on their side.
So, since I apparently misunderstood the definition of 'transfer in kind'; I put the process on hold until Monday and came here. My concern is taking a haircut - not only on commissions on both sides (401k sale and Vanguard buy) but in the time it takes for the liquidation of the 401(k) and the check to be sent to Vanguard, the market may go up and now I'm buying less shares than I sold.
What are your experiences with this type of issue? Am I overthinking? Are my worries overblown?
Thanks!
So, since I apparently misunderstood the definition of 'transfer in kind'; I put the process on hold until Monday and came here. My concern is taking a haircut - not only on commissions on both sides (401k sale and Vanguard buy) but in the time it takes for the liquidation of the 401(k) and the check to be sent to Vanguard, the market may go up and now I'm buying less shares than I sold.
What are your experiences with this type of issue? Am I overthinking? Are my worries overblown?
Thanks!