DH retired 1 1/2 years ago and has left 401k in the employer sponsored Plan at Fidelity. We have low cost index funds available via the Plan. He has approximately 1.5 mill..
We met with a Fidelity advisor when we retired to discuss our retirement plan. This was our 1st time meeting a Fidelity advisor. He recommended us rolling 401k To an IRA, The argument was we would have more options to invest in. We are happy with the funds available in the 401k so not an issue.
We were hesitant because it is my understanding that investments held in a 401k have more protections than those held in an IRA. We are in the state of Georgia.
Our Fidelity advisor calls regularly to meet with us, and I know it is to try and have us move funds to an IRA.
He also was recommending us to use some funds to buy an Annuity. I told him we don’t need an annuity because DH gets approximately $50k in a pension and we will both have SS in a few years.
So I am a little skeptical of his advice.
So basically, I am looking for guidance on the Pros or Cons in leaving DH investments in the Employer Plan at Fidelity vs rolling it to an IRA. Thank you in advance!
We met with a Fidelity advisor when we retired to discuss our retirement plan. This was our 1st time meeting a Fidelity advisor. He recommended us rolling 401k To an IRA, The argument was we would have more options to invest in. We are happy with the funds available in the 401k so not an issue.
We were hesitant because it is my understanding that investments held in a 401k have more protections than those held in an IRA. We are in the state of Georgia.
Our Fidelity advisor calls regularly to meet with us, and I know it is to try and have us move funds to an IRA.
He also was recommending us to use some funds to buy an Annuity. I told him we don’t need an annuity because DH gets approximately $50k in a pension and we will both have SS in a few years.
So I am a little skeptical of his advice.
So basically, I am looking for guidance on the Pros or Cons in leaving DH investments in the Employer Plan at Fidelity vs rolling it to an IRA. Thank you in advance!