Hello,
Most likely my questions below were already asked before, but I appreciate any recommendations and guidance. Thank you in advance.
I’m approaching retirement and my retirement savings are currently in my employer’s 401(k) plan. I’m considering transferring some funds (or all of them) out of Employer’s 401K Plan to my Charles Schwab IRA account.
Before proceeding, I have a few questions:
1. Should I keep my 401(k) plan with my employer while I am still working and contributing, or would it be better to transfer the funds elsewhere as I approach retirement?
2. Is transferring 50% of my balance the right amount, or should I transfer more or less?
3. Is this a sound decision at this stage of my life?
4. Once the funds are transferred, how can I ensure they remain safe, as I cannot afford to lose any money at this point of my life?
5. What AA should I be using once the funds are transferred out of 401K Plan account to IRA account?
Thank you.
Most likely my questions below were already asked before, but I appreciate any recommendations and guidance. Thank you in advance.
I’m approaching retirement and my retirement savings are currently in my employer’s 401(k) plan. I’m considering transferring some funds (or all of them) out of Employer’s 401K Plan to my Charles Schwab IRA account.
Before proceeding, I have a few questions:
1. Should I keep my 401(k) plan with my employer while I am still working and contributing, or would it be better to transfer the funds elsewhere as I approach retirement?
2. Is transferring 50% of my balance the right amount, or should I transfer more or less?
3. Is this a sound decision at this stage of my life?
4. Once the funds are transferred, how can I ensure they remain safe, as I cannot afford to lose any money at this point of my life?
5. What AA should I be using once the funds are transferred out of 401K Plan account to IRA account?
Thank you.
Statistics: Posted by peter19 — Sun Jan 26, 2025 5:45 pm — Replies 6 — Views 405