I'm considering consolidating my and my spouses accounts and could use some input.
I have a Voya account with a 401k and small Roth 401K balance from a former job. I also have a TSP account which I am actively contributing to. 98-99% of my balances are pre-tax 401k/TSP contributions. I have a small Roth IRA at Fidelity. I am likely going to end my federal job in the next six months and move to another job. Wife is going to change jobs in 6 months as well.
My spouse has a 401k (Mass Mutual) and 403b (Fidelity) across two different providers.
For me:
At Voya I can invest in these funds. I'm not listing all, just the low expense ratio options.
Vanguard® GNMA Fund - Admiral™ Shares 0.11
Vanguard® Russell 1000 Growth Index Fund - Inst Shares 0.07
Vanguard® FTSE Social Index Fund - Institutional Shares0.12
Vanguard® Institutional Index Fund - Institutional Shares 0.04
Vanguard® Mid-Cap Index Fund - Institutional Shares0.04
Vanguard® Small-Cap Index Fund - Institutional Shares 0.04
Vanguard® Target Retirement 2045 Fund (most of my allocation is here) - 0.08%
I'm thinking I'd like to consolidate at Fidelity to simplify moving forward, have more flexibility with my investment options and be able to open conventional brokerage accounts as well. I'm also not particularly happy with Voya's web interface.
Does it ever make sense to roll over from TSP into an outside account? Going back into federal service isn't off the table in the future.
Can I do a rollover from my pre-tax 401K at Voya into a Roth at Fidelity?
We are likely going to be over the income limit for Roth contributions and don't have much in Roth currently. Does this impact how we would consolidate? I assume we will have 401k type accounts in our new jobs, but type and provider is TBD obviously.
Should I just wait until we both switch jobs?
I have a Voya account with a 401k and small Roth 401K balance from a former job. I also have a TSP account which I am actively contributing to. 98-99% of my balances are pre-tax 401k/TSP contributions. I have a small Roth IRA at Fidelity. I am likely going to end my federal job in the next six months and move to another job. Wife is going to change jobs in 6 months as well.
My spouse has a 401k (Mass Mutual) and 403b (Fidelity) across two different providers.
For me:
At Voya I can invest in these funds. I'm not listing all, just the low expense ratio options.
Vanguard® GNMA Fund - Admiral™ Shares 0.11
Vanguard® Russell 1000 Growth Index Fund - Inst Shares 0.07
Vanguard® FTSE Social Index Fund - Institutional Shares0.12
Vanguard® Institutional Index Fund - Institutional Shares 0.04
Vanguard® Mid-Cap Index Fund - Institutional Shares0.04
Vanguard® Small-Cap Index Fund - Institutional Shares 0.04
Vanguard® Target Retirement 2045 Fund (most of my allocation is here) - 0.08%
I'm thinking I'd like to consolidate at Fidelity to simplify moving forward, have more flexibility with my investment options and be able to open conventional brokerage accounts as well. I'm also not particularly happy with Voya's web interface.
Does it ever make sense to roll over from TSP into an outside account? Going back into federal service isn't off the table in the future.
Can I do a rollover from my pre-tax 401K at Voya into a Roth at Fidelity?
We are likely going to be over the income limit for Roth contributions and don't have much in Roth currently. Does this impact how we would consolidate? I assume we will have 401k type accounts in our new jobs, but type and provider is TBD obviously.
Should I just wait until we both switch jobs?
Statistics: Posted by burn — Mon Dec 30, 2024 11:09 am — Replies 1 — Views 98