Personal Investments • 401K rollerover

Hello guys or ladies

Asking a question for my brother.

My brother got a new job and will start in a few weeks. He wants to rollover his 401K (about $250K) to a IRA CD. What is the normal process?

1) Open an Traditional IRA account, lets say Charles Schwab.

2) Inform his current company that he wants to rollover the amount to Charles Schwab Traditional IRA account.

3) Then purchase the brokered CDs under that Traditional IRA account?

Thanks,
SVHO

Statistics: Posted by svho — Wed Oct 16, 2024 7:26 pm — Replies 4 — Views 233

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