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To: AbolishCSEU
I’m changing jobs as of tomorrow; should I cash out my 401K?

If you're not old enough, you'll be killed by early withdrawal penalties. What you can do is roll it over into an IRA. Very simple procedure (contact Fidelity or Vanguard), and you'll have far more investments options with an IRA than you probably did with your 401(k).

88 posted on 08/19/2010 7:29:45 AM PDT by kevao
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To: kevao; AbolishCSEU

Excellent advise. We had an IRA with Vanguard a few years ago and they were so restrictive re trades and what we could buy, we closed it out and rolled it over to Fidelity with our other IRAS.

Fidelity is easy to deal with, and you can basically buy anything.

“If you’re not old enough, you’ll be killed by early withdrawal penalties. What you can do is roll it over into an IRA. Very simple procedure (contact Fidelity or Vanguard), and you’ll have far more investments options with an IRA than you probably did with your 401(k).”


94 posted on 08/19/2010 7:53:33 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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