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Company 401k and ROTH IRA

Started by rogerrabbit, June 13, 2019, 12:37:31 PM

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Howdy,  I have two retirement accounts from former companies I worked for.  One is at Hewitt and one is at Fidelity.  These are just the services my employer used.  At both, I have traditional and ROTH IRA accounts.  My money is still sitting in both places.  My question - should I roll them into one?  If so, is one better or cheaper service than the other or is there an even better third party I should roll both to?  I would appreciate any advice or opinions to consider.  Thank you!


I don't know much about either 401k/IRA custodian, though one of my employers used Fidelity, and it worked well.

To me, simplicity is important, and the more retirement funds you have scattered among former employers' custodians, the more painful it will be to administer. Fast forward to retirement, and it could be a hassle to withdraw funds from multiple accounts, each with their own logons, passwords, etc. It's an upfront investment of time today to ensure simplicity in the future. If you can rollover your funds into one custodian and keep this up after every job change, you'll thank yourself 30+ years down the road.

I would recommend using one of the existing custodians or open a Vanguard account. Good luck!

Don Bateman

I would consolidate at Fidelity. The bigger guys usually are cheaper and have better technology. Also Fidelity has recently increased the yield they pay on their cash so that isn't a bad thing. The less moving parts, the better.