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AA2015
Member

Investment

I have a part-time retail job, which I have invested in the company’s 401(k). I have a Fidelity investment account.  At the end of this month, the retail store I work at will close. What should I do with my 401 (k)? What are some of your recommendations? Thank you for your time! 

Message 1 of 3
2 REPLIES 2
enjoimorenow
Frequent Contributor

Re: Investment

You can roll it over to a bank of your choice such as maybe etrade, fidelity, charles schwab, etc.  You can leave it and let it continue to grow.  Do you plan to get another job?  It really just depends what you want to do with the money and if you would rather roll it over for example into an investment account and buy your own stocks/mutual funds or if you'd rather just leave it in a retirement target fund which basically takes care of that stuff for you.

 

Some things to consider are the fees you are currently paying, vs what else is available.  The value of your account could get you bonuses if you roll it over to another bank, but usually have to have above 10 or 20k to roll over for bonuses.


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Message 2 of 3
wa3more
Established Contributor

Re: Investment

schwab and etrade are not banks but discount brokers but  i agree rolling over to those types of places are ideal. The OP would roll it into an IRA and have more freedom and investment options than leaving in current plan.

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