r/Retirement401k

It's a bit bigger than that really. I changed jobs back about 18 years ago. They didn't offer a 401k so I never transferred it. The Company I left is a huge corp and still in business. The company I work for now is a small, less than 100 person business.

The account has moved from Fidelity to Wells Fargo and is now at Principal. The amount is close to $600K. I'm happy with it's progress but I haven't touched it in 10 or more years. I am able to log in and access the account.

Should I be doing something else with the money? It will be near 10 years before I can retire. So there is time but I'm not sure what to do. I believe that the original Company that I started the 401k through still pays the fees? No 401k to move it to so what else could I and should I do?

My wife (26) and I (32) are beginning our retirement planning. I know I'm late, but we both finally have good incomes, and we are hoping to invest/save aggressively for the next 30 years.

Everyone we have spoken to scoffs at the idea of whole life insurance and says we should switch financial advisor based on him even suggesting it.

Here is his logic from a recent meeting recap. Can someone point out the potential BS?

"Jack advocated for whole life insurance with three contractual guarantees: guaranteed premiums, guaranteed cash value growth, and guaranteed death benefit. The cash value component serves as a non-correlated asset in bucket three (tax-free growth and distributions), compared to taxable accounts and tax-deferred retirement accounts. Jack recommended allocating 30% of annual savings ($15,000 of their $46,000+ savings) to permanent life insurance based on Ernst & Young research, with the permanent insurance mitigating six retirement risks: market volatility, inflation, interest rate changes, taxes, long-term care needs, and longevity"

Already max 401k,HSA. Never considered IRA until recently.Money sitting in HYSA

I'd like to rollover my 401k from a previous job to my new employer's 401k and am planning to start the process soon. However, I'm not sure how long I am going to stay at my current job. I've been looking for something else the past few months to no avail, so I may end up being here for a while.

If I start the rollover but then leave my current role, could that present any issues if I am no longer employed with the company? Or would the rollover go through?

For reference, my current employer is also a previous employer from about 5 years ago. I checked, and my previous account is still active (with a $0 balance since I moved the money out when I left years ago).

Also, are there any tips on how to process a smooth rollover?

Looking for some opinions here....wife and I both 50 years old. combined 400k income. I have govt job that should end with 100k annual pension not adjusted for inflation. wife is small business owner so I've been maxing 403b and 457 accounts. combined 700k saved all traditional. Our marginal rate is 24% and state tax around 7% so the way I've looked at it is that assuming we move to a tax free state in retirement, we would almost certainly be saving that 7% regardless of retirement tax bracket. Then I went down the rabbit hole of YouTube experts and it got me thinking about if I should perhaps split my contributions between Roth and traditional to hedge my bets and create a level of flexibility that otherwise wouldn't exist. TIA

Currently my company matches 3%. I am putting 12%( 7% before tax + 5% roth contribution) of my salary into 401k account. Since there is 3% match it is total 15% towards the retirement. Is this good enough distribution or I should put more into Roth? What should I be aware of if I am missing anything? Would love to hear your insights.

PS: I am not talking about individual fidelity ROTH IRA Account

Previously, I worked for a large healthcare insurance company, which I had a 401(k) through. Now I’m working for a hospital system, which is owned by that same large insurance company that I previously worked for. Now I have two 401(k)’s, one with the insurance company and then one with the hospital system. I’m being told that I cannot roll over or combine my 401(k)’s because it was considered an internal transfer. they are two separate companies with separate retirement accounts. The two 401k’s are held through the same retirement servicer but under 2 separate accounts. Can someone help me understand why I can’t combine them since I switched companies.

I'm 36, and got a later start in my career when I went back to college in my mid 20s. Ran up a bunch of debt and then jumped from HCOL city to another chasing career advancement and a graduate degree. In that time, I didn't put a lot into retirement because I was living nearly paycheck to paycheck.

I currently sit at about $60k in 401k, with another $30k in an old pension account that I'm trying to transfer over to my 401k.

I've come into a new job with 5% company match, and I can max out my yearly 401k and IRA limits while still paying all my bills and living a comfortable but not extravagant life.

My automated retirement tracker my company uses says I'm only on track to cover 82% of my likely costs in retirement, but I've looked at other analyses that seem to indicate that I'll have a very comfortable retirement if I keep on my current trajectory. Thought I'd solicit some feedback from helpful redditors. Should I try to cut back on extra expenses to invest more with my personal accounts, or will my 401k/IRA leave me in a good spot for retirement at 65? Currently live in MCOL area, and plan to stay.

401k is currently 100% invested in S&P 500 for the low fees and relatively stable growth.

Hi everyone,

1. Just curious how people handle their RIA fees when it comes to their 403bs. I use Aspire Financial and I was thinking of moving away from using an advisor if possible. My portfolio is pretty diverse, but 2% for an advisor fee doesn’t feel right. Looking for some perspective.

2. I figured I’d also ask - since I’m a teacher and there are a lot of various opinions on this, right now I contribute 7% of my income to my pension. Do those of you with a pension include the 7% contribution in your retirement savings goal, be it 15% or 25% or whatever it is, or does the pension go on top of your retirement savings plan?

NEWBIE HERE 👋

34m, $56K income (before tax).

My company matches fully up to 9%.

I started late in my 401(K) game. And recently directed my paycheck into 401(K) ROTH rather than 401 (K) TRAD with Fidelity.

I can shell out maybe another $1K per month into either 401(K) ROTH or Roth IRA. Any gurus in here got good personal opinions?

*I do max out on my HSA contributions, and have them invested also.

*I prioritized saving to buy my condo flat out with cash, valued at $180K.

My regional manager recently came to my location to answer questions, shake hands, etc. I asked him why the match for our company is only 4% to which he replied “ four percent is the legal maximum we can match up to “ I have friends of mine that make 8 or even more percentage match in their 401k from their employer. Is match dependent on the industry you work in? I’m not super knowledgeable about it but from my perspective it seems like he straight up lied to me. Thoughts?

I am 61 with a substantial amount in my 401(k) and almost nothing in Roth. I am looking to do come Roth Conversions over the next few years to (a) Avoid higher rate RMDs later in life and (b) avoid IIRMA surcharges when being forced to do RMDs.

Does anyone have a recommendation for online tools to model this, where I know my estimated income, AGI, MAGI, ROI on the 401(k), etc?

When I started my 401k a year ago I had no idea what to choose so it was not the great decision I made. Can you please advise me how to choose? I know I had to choose retirement target fund which I did, but they have transaction fees😭 I have no good options. Currently my company 401k offerings are below:

Income

Funds focused on stability and fixed income.

Invesco Stable Asset Fund – ADPZ Class

American Funds Inflation Linked Bond Fund – Class R6

iShares U.S. Aggregate Bond Index Fund – Class K

BlackRock Total Return Fund – Class K (also appears under “Growth & Income”)

Growth & Income

Balanced funds combining stocks and bonds.

American Funds American Balanced Fund – Class R6

Vanguard Target Retirement Income Fund – Investor Class Shares

Vanguard Target Retirement 2020 Fund – Investor Class Shares

Vanguard Target Retirement 2025 Fund – Investor Class Shares

Growth

Funds targeting long-term capital appreciation (moderate-to-high risk).

Vanguard Target Retirement 2030 Fund – Investor Class Shares

Vanguard Target Retirement 2035 Fund – Investor Class Shares

Vanguard Target Retirement 2040 Fund – Investor Class Shares

Vanguard Target Retirement 2045 Fund – Investor Class Shares

Vanguard Target Retirement 2050 Fund – Investor Class Shares (25% I hold)

Vanguard Target Retirement 2055 Fund – Investor Class Shares

Vanguard Target Retirement 2060 Fund – Investor Class Shares

Vanguard Target Retirement 2065 Fund – Investor Class Shares (25% I hold)

Vanguard Target Retirement 2070 Fund – Investor Class Shares

Aggressive Growth

Equity-heavy and higher-risk growth funds.

American Funds Washington Mutual Investors Fund – Class R6

JPMorgan Equity Income Fund – Class R6

State Street Equity 500 Index Fund – Class K (50% i hold)

T. Rowe Price Dividend Growth Fund – Class I

Victory Pioneer Fundamental Growth Fund – Class R6

iShares Russell Mid-Cap Index Fund – Class K

Vanguard Small Cap Value Index Fund – Admiral Class

Vanguard Small Cap Index Fund – Admiral Class

Janus Henderson Triton Fund – Class N

iShares MSCI EAFE International Index Fund – Class K

T. Rowe Price Overseas Stock Fund – Class I

Fidelity Emerging Markets Fund – Class K

American Century Real Estate Fund – Class R6