boring 401k retirement ? - Chicagoland Sportbikes
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post #1 of 4 (permalink) Old 04-02-2012, 11:43 PM Thread Starter
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boring 401k retirement ?

so in a nutshell i already have a roth ira with a major institution and i have a old 401k from my old job waiting to be rolled over somewhere.
i don't want to roll it over into my new jobs 401k. Is it foolish to roll it over into a traditional ira with the same instiution? I want a traditional and roth ira but just now sure if i should have all my money with one place?

<------ Jason
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post #2 of 4 (permalink) Old 04-03-2012, 06:13 AM
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Ultimately what you "own" in most cases is the fund that your money is invested in.

The "place" that invests it for you is the broker that makes that happen.... kind of like buying a car.... it's your car, they are just the dealer.

So having all your money in one place from a safety POV ..... not all so bad.



That said ..... if they are a shit - salesperson ...... you wind up with a yard full of Ford Pinto's.



You need a financial adviser who will give you good advise on what to buy and strategies to meet your goals.



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post #3 of 4 (permalink) Old 04-03-2012, 10:55 AM Thread Starter
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cool thanks man, i was just wondering since like banks are backed up by fdic but i understand now, thanks.

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post #4 of 4 (permalink) Old 04-03-2012, 11:07 AM
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FDIC ...... guarantees bank funds.


As for the securities ..... most are not guaranteed...... some guarantee results and/or your principle - you pay for that.


In this case .... if you manage your 401k / securities through a company like T-Row / Ameriprise / Prudential / whoever.


If they go out of business, you still own the fund / security... all good..


If the fund / security fails ..... you have bupkis. ..... that's just the stock market.


Tom

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