kuli48
New Member
Cash: $ 0.90
Posts: 4
Joined: 14 Jan 2011
Location: iowa
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I was retired dec 2010, between pension, and spouse and my ss will cover 60% of previous salary have 450k in 401k, and ira and 40k in misc plus lake house 300k. I need to move 401k - 350k to IRA not sure about where to put it. It is now 80% equities. Do I hire a planner to assist or transfer to vanguard or other and make distributions? We both have LTC insurance to cover some care.
Thanks Mike (62 and in fair health)
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Fri Jan 14, 2011 10:58 pm |
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oldguy
Senior Member
Cash: $ 308.70
Posts: 1478
Joined: 21 May 2006
Location: arizona
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quote:
Do I hire a planner to assist or transfer to vanguard or other and make distributions?
No - when I retired I called Vanguard and they moved it from my 401k to a Rollover IRA. When you say 'make distributions' - are you planning to sell it and pay the taxes? You don't have to, you can roll it w/o creating a taxable event.
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Fri Jan 14, 2011 11:13 pm |
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coaster
Senior Advisor
Cash: $ 1357.20
Posts: 6683
Joined: 11 Oct 2005
Location: Wisconsin
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The best way to transfer that 401(k) money to an IRA is by a direct custodian-custodian transfer. Contact the investment company you choose and they'll handle everything. You need do nothing except sign the paperwork.
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Sat Jan 15, 2011 7:03 am |
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