I left company NotSoGood, and have started working at company ReallyAwesome. The question is whether 1) I should keep my 401k at NotSoGood, 2) rollover the
money into ReallyAwesome's 401k (I have started contributing) or 3) rollover the money into an IRA. I ran a quick test, and it seems from a rudimentary
compound interest simulation, it doesn't matter what I do assuming the same performance. I know that "assuming the same performance" is really
the question.
The only negative I see with rolling the 401k into an IRA is that I won't have access to the money if I need to borrow it. Not that I would borrow - I would rather keep that money locked up in investments. BUT the option is there IF I needed it. However, I think rolling over into an IRA would give me greater access to various funds - is that true?
I'd just like to hear what other people have done, and what your opinion is on the best option.
Thanks
The only negative I see with rolling the 401k into an IRA is that I won't have access to the money if I need to borrow it. Not that I would borrow - I would rather keep that money locked up in investments. BUT the option is there IF I needed it. However, I think rolling over into an IRA would give me greater access to various funds - is that true?
I'd just like to hear what other people have done, and what your opinion is on the best option.
Thanks
