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401K Fees can also be excessive
Old 10-09-2019, 06:37 PM   #61
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401K Fees can also be excessive

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Originally Posted by Senator View Post
When you leave it in an employers 401K plan, it can be embezzled, loans and withdrawals delayed, and more cumbersome all around. Fees can also be excessive. Investment options are more limited.

Put it in an IRA account, so all you have is your own signature to get it out.

Don't kid yourself by thinking that an employer plan at Fidelity is the same as an IRA at fidelity. The employer makes the rules, and sets the fees.
+1
Fees are unknown & IRA is easy to manage. I would go with IRA ASAP!
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Old 10-10-2019, 11:09 AM   #62
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Quote:
Originally Posted by Senator View Post
Don't kid yourself by thinking that an employer plan at Fidelity is the same as an IRA at fidelity. The employer makes the rules, and sets the fees.
Sooo True! For example, I have a Workplace Schwab 401k plan with my employer, I own one single ETF in that SCHA. My employer and it's plan charge me a $15 quarterly "fee" to have this plan. So $60 a year fee to own a single ETF... while my own IRA (Individual Retirement Account) over at Schwab (notice the difference between WORKPLACE and INDIVIDUAL) charges me nothing, zilch, $0 to hold that EXACT SAME SCHA ETF.

I always ask for the information and details on the workplace 401k plan before I accept a job offer, my family depends on that knowledge I gain from that information to make the best financial decision. It is...what it is!
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Old 10-10-2019, 01:32 PM   #63
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I left my 401k with my employer because of the legal protections and the Vanguard Institutional choices. I also have a $5 million umbrella policy, and several rentals, and in case I get sued for $10 million.
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Old 10-10-2019, 01:34 PM   #64
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I left my 401k with my employer because of the legal protections and the Vanguard Institutional choices. I also have a $5 million umbrella policy, and several rentals, and in case I get sued for $10 million.
Do tenants sue for $10MM and actually win?
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Old 10-10-2019, 01:53 PM   #65
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Do tenants sue for $10MM and actually win?

Not in my experience. He only sued for possession of the house (way < than $10MM), and my attorney provided by State Farm Umbrella policy took care of it in short order.
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