Guests - If You want access to member only forums on HSO. You will gain access only when you Sign-in or Sign-Up on HotSpotOutdoors.

It's easy - LOOK UPPER right menu.

  • Announcements

    • Rick

      Members Only Fluid Forum View   08/08/2017

      Fluid forum view allows members only to get right to the meat of this community; the topics. You can toggle between your preferred forum view just below to the left on the main forum entrance. You will see three icons. Try them out and see what you prefer.   Fluid view allows you, if you are a signed up member, to see the newest topic posts in either all forums (select none or all) or in just your favorite forums (select the ones you want to see when you come to Fishing Minnesota). It keeps and in real time with respect to Topic posts and lets YOU SELECT YOUR FAVORITE FORUMS. It can make things fun and easy. This is especially true for less experienced visitors raised on social media. If you, as a members want more specific topics, you can even select a single forum to view. Let us take a look at fluid view in action. We will then break it down and explain how it works in more detail.   The video shows the topic list and the forum filter box. As you can see, it is easy to change the topic list by changing the selected forums. This view replaces the traditional list of categories and forums.   Of course, members only can change the view to better suit your way of browsing.   You will notice a “grid” option. We have moved the grid forum theme setting into the main forum settings. This makes it an option for members only to choose. This screenshot also shows the removal of the forum breadcrumb in fluid view mode. Fluid view remembers your last forum selection so you don’t lose your place when you go back to the listing. The benefit of this feature is easy to see. It removes a potential barrier of entry for members only. It puts the spotlight on topics themselves, and not the hierarchical forum structure. You as a member will enjoy viewing many forums at once and switching between them without leaving the page. We hope that fluid view, the new functionality is an asset that you enjoy .
Sign in to follow this  
MIKE IN lINO III

401K options

Recommended Posts

I have a 401k at an old employer and I am now quified to join my new employer 401k program.

My old employer is not in very good financial condition and I was told that there is a penalty ( fee ) to get my money if they go under.

My new employer is not in the best condition either and I really don't want to transfer the 401 into this company.

What are my options?

I don't want to do the self-directed version as I do not have the time to follow the market like I did before.

Any help would be appreciated.

Mike

Share this post


Link to post
Share on other sites

Roll it over into an IRA. Do it before you HAVE to cash it out, when you will need to pay penalty. There are plenty of places or people (financial advisors) who can do it for you. Easy to do, and no cost, other than normal "management" fees, depending upon where you go.

I can't give financial advice, or you would be in the poor house with me wink not really, but find some Mutual Fund you are comfortable with and let er ride. Just be careful of getting into anything with any excess fees, etc.

Share this post


Link to post
Share on other sites

Mike,

You can do a direct rollover from your old 401k to a regular IRA account with no tax consequences. If you have the funds disbursed to you, you have 60 days to setup the IRA or you will absorb penalties and taxes. Most efficient method is a direct transfer to an IRA, now you just need to decide who you want to handle your funds. The least attractive option is to leave it with your old employer. You do have the option to transfer to your new 401k program but if their program is suspect, you are better off having someone manage the funds for you, especially if you don't have the time yourself. Generally, most 401k providers offer few investment choices and little advice in doing so. If you have further questions, please let me know if I can help...and yes, this is what I do for a living...unless I am fishing:)

Dan

Share this post


Link to post
Share on other sites

I'd cash it out, seriously. I don't believe the market is in recovery, just preliminary staging for a triple dip without any sprinkles at all.

Share this post


Link to post
Share on other sites

Only problem with cashing out is you now pay penalty and tax if under 59 1/2. If you have 5-10 years, or longer, before you need the money, the most effective alternative is to reallocate and put yourself in holdings that fit your risk tolerance level.

Share this post


Link to post
Share on other sites

You don't need to buy new mutual funds or stocks if you don't want to. You can always leave it as "cash" with Schwab or somebody as an IRA and then turn it into something later. I believe you can also do CD's.

Share this post


Link to post
Share on other sites

Nothing wrong with a good mutual fund. My wife's emerging market fund had a 36% return over the last 3 months. I wouldn't waste your time with cd's.

Share this post


Link to post
Share on other sites

There's some good advice here, possibly some bad advice too (it all depends on your individual situation).

It really depends on your age and how soon you'll need the money, and how much risk you're comfortable with. Unless you like trying to time the market a diversified portfolio is probably the best way to go.

You can do a direct rollover with no tax consequences or penalties, as for what you roll the money into the options are virtually unlimited.

Share this post


Link to post
Share on other sites

I rolled one into an IRA at my bank. It's getting about 6%. Your bank needs to supply you with paperwork so that the 401 holder can transfer the money.

Share this post


Link to post
Share on other sites

Its been mentioned before but you need to separate the savings plan from the investment choices within the savings plan.

Rolling over your 401K to an IRA is probably a wise move from a tax and penalty perspective. You need to consider the value of the 401k and also the growth of your original investments however.

Once you have completed the rollover to the IRA you have virtully an unlimited amount of investment choices within your IRA. Cash, CD's, individual stocks, mutual funds, REIT's etc. You need to evaluate your own financial situation, your goals etc. when making your investment choices.

You could also convert the new IRA to a Roth IRA if you qualify but that is a another set of conversations.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  



  • Posts

    • You heard wrong and he left on his own, multiple times....
    • I have been adding a little equipment to my butchering hobby every year and this year I am going to add a bandsaw to the mix.  On the WWW there are a bunch of them in the 280-450 range that all look like rebranded clones of each other.    Then, from there it looks like the next jump is the Rikon/grizzly model that has bearing guides, a better blade and it looks like a better fit and finish for 650- 800 depending on the retailer. Does anyone have any experience with either of these types or anything similar?  I'm not going to spend the dollars to get a commercial model.     
    • Ya its been a long day. I don't know if I'm a puss or what but I havent even been able to eat today. Never lost a deer before. Hopefully never again. Worst part is I don't know what went wrong I would make exact same shot again.
    • Awesome thank you  
    • Sorry Charlie.  Way I heard it, the lords didn't like him having a plug for his sight in his .sig so he moved on, like many of the cooking folks did to another place.   I am there too, so come on over....  Just leave the politics here.  
    • Gee Dave, you are sure a  believer in the overprotective government.   I bet you cook all your eggs hard, and your chicken to 165.  You need to read up on pasteurization... It's a time and temperature thing. 
    • Reinhardt's skin was about as thick as sausage casing, it was after Obama got re-elected and the realization that he couldn't howl from his deer stand after Romney's victory. That's when he left, so it's been a while. He was a good dude with a lot of experience in a variety of things. A lot of folks are missed around these parts.  
    • Yeah, I think the first time was after too many people made fun of Michelle Bachmann.  Too bad. He had some great old school knowledge of sausages and butchering in general. 
    • I thought he just got mad and took his ball and went home? Didn't he do that at least a time or 2? I do miss Reinhardt though....
    • Check his web sight which caused him to get expelled from HSO many moons ago.... It has all his recipes and info on it.   www dot sausage heaven outdoors dot com   with a http:// and some deleted spaces you will be golden. 
  • Our Sponsors