LogFAQs > #910699540

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Topic	I'm thinking about cashing out my 401k from my old job
Sariana21 10/17/18 5:26:30 PM #11:	No, no, no. Retirement money should stay in a retirement fund. If you can roll it over into your current 401(k), great, do that. If not, set up a self-directed IRA with a low-fee company such as Vanguard, Fidelity, or Charles Scwab and roll it into that. Cashing out a retirement fund will cause you to pay penalties and extra taxes. Just don't. You won't get anything close to $11,000 out of it. (You're better off leaving it alone and paying those management fees.) --- ___ Sari, Mom to DS (07/04) and DD (01/08) <cite>Sariana21 posted [p:910699540] in I'm thinki... [t:77106668]...</cite> <quote>No, no, no. Retirement money should stay in a retirement fund. If you can roll it over into your current 401(k), great, do that. If not, set up a self-directed IRA with a low-fee company such as Vanguard, Fidelity, or Charles Scwab and roll it into that. Cashing out a retirement fund will cause you to pay penalties and extra taxes. Just don't. You won't get anything close to $11,000 out of it. (You're better off leaving it alone and paying those management fees.) --- ___ Sari, Mom to DS (07/04) and DD (01/08)</quote> ... Copied to Clipboard!
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