http://www.mytwodollars.com/2008/08/28/options-for-your-money-in-employer-sponsored-retirement-accounts-when-switching-jobs/ A place to discuss money...for the rest of us. Thu, 24 May 2012 01:22:07 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://www.mytwodollars.com/2008/08/28/options-for-your-money-in-employer-sponsored-retirement-accounts-when-switching-jobs/#comment-28437 Weekly Dividend Investing Roundup - August 30, 2008 » The Dividend Guy Blog Sat, 30 Aug 2008 11:02:22 +0000 http://www.mytwodollars.com/?p=1627#comment-28437 [...] Employee sponsored retirement account [...] [...] Employee sponsored retirement account [...]

]]> http://www.mytwodollars.com/2008/08/28/options-for-your-money-in-employer-sponsored-retirement-accounts-when-switching-jobs/#comment-28404 Debbie M Thu, 28 Aug 2008 20:14:41 +0000 http://www.mytwodollars.com/?p=1627#comment-28404 It's hard for me to imagine a situation where I would not roll it into an IRA (eventually, after I got over my laziness). I suppose in some cases employers do negotiate lower fees. And I know they sometimes do have access to investments that are closed to new investors. And if it's in a pension, you might be earning a guaranteed positive interest rate while the stock market is plummeting. But generally one's options are so much greater in an IRA that it's a no-brainer to me. It’s hard for me to imagine a situation where I would not roll it into an IRA (eventually, after I got over my laziness). I suppose in some cases employers do negotiate lower fees. And I know they sometimes do have access to investments that are closed to new investors. And if it’s in a pension, you might be earning a guaranteed positive interest rate while the stock market is plummeting. But generally one’s options are so much greater in an IRA that it’s a no-brainer to me.

]]> http://www.mytwodollars.com/2008/08/28/options-for-your-money-in-employer-sponsored-retirement-accounts-when-switching-jobs/#comment-28396 David Thu, 28 Aug 2008 14:22:30 +0000 http://www.mytwodollars.com/?p=1627#comment-28396 I agree - cashing out is a bad idea! I agree – cashing out is a bad idea!

]]> http://www.mytwodollars.com/2008/08/28/options-for-your-money-in-employer-sponsored-retirement-accounts-when-switching-jobs/#comment-28395 WealthBoy Thu, 28 Aug 2008 13:45:31 +0000 http://www.mytwodollars.com/?p=1627#comment-28395 If you ask me, cashing out is probably the least desirable option, particularly if you have a large sum coming out of the account. You're likely to get slammed hard on the taxes, not to mention the 10% penalty if you're under 55. If I were to leave my current job, I probably would not roll it into an IRA. I would either leave it or take it to my new employer, depending on whether my new employer's plan has more/better investment options. My current employer's plan is really lacking in investment options for small cap and international funds (basically only a single fund is available for each). If you ask me, cashing out is probably the least desirable option, particularly if you have a large sum coming out of the account. You’re likely to get slammed hard on the taxes, not to mention the 10% penalty if you’re under 55. If I were to leave my current job, I probably would not roll it into an IRA. I would either leave it or take it to my new employer, depending on whether my new employer’s plan has more/better investment options. My current employer’s plan is really lacking in investment options for small cap and international funds (basically only a single fund is available for each).

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