almost_there
Dryer sheet aficionado
- Joined
- Sep 11, 2007
- Messages
- 41
I really like this forum and am looking for some opinions from the really smart people who frequent it.
My situation:
Will be retiring and the end of this year. Most of my retirement assets are in 2 accounts:
Fidelity 401k - 700k
Vanguard IRA - 600k
While working being in the 401k was a no brainer even if only for the company match. What was really nice though was initially the company paid the Fidelity fees. That has changed the last couple of years and now we are paying some of the fees. The account has done well and I am grateful to have been able to take advantage of it.
Now that I am facing retirement though, what do do with the 401k?
Should I hold my nose, pay the fees and keep the 401k as is?
Should I convert it to Fidelity IRA?
Should I close the Fidelity account and transfer the funds into the Vanguard IRA?
Considerations:
I live in Florida so I believe our state laws protect retirement assets equally regardless of if they are in a 401k or an IRA
My self-directed Vanguard IRA account has no fees. Would the same be true with a Fidelity self-directed IRA?
Is there a benefit to not putting all your eggs in one (Vanguard) basket?
Currently, I am a Vanguard "Voyager" customer. Combining everything into Vanguard would qualify me to be "Flagship" customer. Does this make a big enough difference to sway me into doing the consolidation?
Am I missing any other considerations?
What would you guys do in my situation?
My situation:
Will be retiring and the end of this year. Most of my retirement assets are in 2 accounts:
Fidelity 401k - 700k
Vanguard IRA - 600k
While working being in the 401k was a no brainer even if only for the company match. What was really nice though was initially the company paid the Fidelity fees. That has changed the last couple of years and now we are paying some of the fees. The account has done well and I am grateful to have been able to take advantage of it.
Now that I am facing retirement though, what do do with the 401k?
Should I hold my nose, pay the fees and keep the 401k as is?
Should I convert it to Fidelity IRA?
Should I close the Fidelity account and transfer the funds into the Vanguard IRA?
Considerations:
I live in Florida so I believe our state laws protect retirement assets equally regardless of if they are in a 401k or an IRA
My self-directed Vanguard IRA account has no fees. Would the same be true with a Fidelity self-directed IRA?
Is there a benefit to not putting all your eggs in one (Vanguard) basket?
Currently, I am a Vanguard "Voyager" customer. Combining everything into Vanguard would qualify me to be "Flagship" customer. Does this make a big enough difference to sway me into doing the consolidation?
Am I missing any other considerations?
What would you guys do in my situation?