As some of you know I have been recently laid off. I have a Fidelity 401k account that I am able to rollover the full amount to another 401k (if the next employer offers 401k) or to a Fidelity IRA. I did some research on the Fidelity site but have more questions now than before!

I want more flexibility with what my money is invested in. I hated that I had to basically choose from a "List" that my previous employer offered. At least that's how I think it worked because at the time I wanted to invest a portion in a particular company that was not on the List.

Main question is, am I better off rolling my cash into an IRA? And do I get hit with ANY taxes doing this? (looks like I do not)
Question 2 is, am I correct that I will have more say so where my money is invested with the IRA?

Thanks for any input!

 

These are questions for a CPA/financial adviser.

 

What he said.
Each case/individual is different.
When you're talking about your entire financial future, free advise usually isn't worth doodley-squat.

 

I rolled over a Jeep once.

 

I just talked to my best friend who's wife is a CPA. Gave me a few options. My dad is also a CPA and I will be calling him this week. Thanks for the replies though!

I rolled my old jeep once also, and put it on both sides a time or two....maybe three

 

Your DAD is a CPA, yet you come here for financial advice...



and they say I'M 4 sandwiches shy of a 5 party picnic!

 

True! But I was looking for some quick advise. Won't talk to my dad until Thursday or Friday!

 

if you want more flex then look into a scottrade ira. i rolled my old plan into one and i have complete control of what i invest in. i subscribe to several investment news letters and i picked out a hand full of high quality dividend stocks and an few growth prospects. it has held up pretty well.

 

Im staying out of this one. I had shares in Enron.

 

I have a few options now. Looking into a personal type account my friends CPA wife told me about. Good guaranteed growth with flexibility I was wanting.


Please stay quiet!