My new employer uses Empower for our 401K. My previous employer of 10 years used Vanguard. I've always heard that Vanguard is one of the better companies with their lower fees and wide range of funds. I'm enrolled in the managed account option in both accounts, and Vanguard appears to be slightly less costly per year. Would it be wise for my to leave my money in Vanguard, or would it be beneficial to roll it over into Empower?
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401K: Vanguard vs Empower?
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Last: 6 yr ago by ktownag08
Why wouldn't you just roll it over to an IRA with unlimited options? I have never understood keeping anything with my former employer or rolling it to my new employer to see my retirement balances.
Roll it over into an IRA to have more flexibility.
There's a lot more that goes into it besides what the posters above me would say.
Loan provisions, liability protections, backdoor Roth IRA provisions to consider.
Personally my goal is to have my pretax dollars held in a 401k plan and after tax or Roth dollars outside.
Loan provisions, liability protections, backdoor Roth IRA provisions to consider.
Personally my goal is to have my pretax dollars held in a 401k plan and after tax or Roth dollars outside.
Also remember if his / her employer has negotiated correctly, the plans might give you access to lower cost share classes than the retail shares that you're able to buy in an IRA.nactownag said:
There's a lot more that goes into it besides what the posters above me would say.
Loan provisions, liability protections, backdoor Roth IRA provisions to consider.
Personally my goal is to have my pretax dollars held in a 401k plan and after tax or Roth dollars outside.
I personally have both. I have a 403b (instead of a 401k) but I also have a Roth IRA to hedge my bets against future tax rates when I am retired.
If the new employer's plan is to your liking, no reason not to especially if you're trying to do things like a backdoor Roth IRA.