Hello everyone. I am on here learning everyday so thanks for sharing your ideas and experiences. I am 51 and have a main IRA with a FA consisting of money transferred a few years ago from my Amerprise account when I realized the fees I was charged by Ameriprise. Unfortunately I did not discover this page before I set up my current account but I am learning.
So yesterday I was let go at my employer and need to rollover a pretty decent size 401k. I want to open a Vanguard account that I can manage. I will then move the money away from my FA to this new account as well.
Opening an account is fairly simple; they have a rollover form right on the site. Is there anything I should know about different types of VG accounts before I go ahead and open an account? It looks like the only option to avoid penalty or tax is the Vanguard IRA. I do not have any Roth savings to date. Is that an option for rollover?
Thank you
So yesterday I was let go at my employer and need to rollover a pretty decent size 401k. I want to open a Vanguard account that I can manage. I will then move the money away from my FA to this new account as well.
Opening an account is fairly simple; they have a rollover form right on the site. Is there anything I should know about different types of VG accounts before I go ahead and open an account? It looks like the only option to avoid penalty or tax is the Vanguard IRA. I do not have any Roth savings to date. Is that an option for rollover?
Thank you