 As a investor in stock market, what source of information you use? |
Hi.
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 What determines the amount a stock goes up or down? |
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 Forex trading? |
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 Let's say I have a good lump sum of money to invest in my 401(k). Assuming I'm 25, what do you suggest? |
I already have what I consider to be a nicely diverse portfolio so I'm looking more for validation than personal finances 101.
Thanks for the help!
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 $500,000 in the stock market, in 5 to 10 years? |
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 A friend has came to me stating that they have an offer to invest $1000 in a real estate investment? |
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momof2 | How do i rollover my pre-existing 401K from a previous employer? Can I do it without penalties? |
It's currently worth approximately $33,500.00 and slowly losing. It lost 2.06% in the last quarter. Do I roll it over into an IRA? Is there a link or website to do all this or to have all such questions answered? Any and all educated and knowledgeable answers welcome.
Additional Details
If it's considered to be doing well, should i just leave it where it is? i forgot to ask this in my original question. |
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endorphin_boy415
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For a more detailed response, try Googling the words "401(k) rollover." Or you might check out a web site like Fidelity.com or one belonging to one of the other big investment firms.
In the meantime, here is some basic info:
401(k) rollovers are conducted everyday, so this is not a huge undertaking on your part.
Rolling over your 401(k) is just a matter of paperwork. Your former employer should be able to offer you information on how to go about this. Or, if your new employer offers a 401(k) plan, they should be able to tell you how to go about this, too. If you DON'T have a new job or if your new employer doesn't offer a 401(k) plan, you should be able to keep your money where it is OR roll it over into an IRA. You are not "kicked out" of the 401(k) plan just because you don't work there any more.
You don't have to withdraw any money or deposit any checks. That's all an invisible process that the manager of your 401(k) plan handles.
Your 401(k) is probably under-performing right now because of the state of the economy right now. My "unprofessional" advice would be to keep your money right where it is. No need to invest in an IRA unless you want to manage your own money - which I DO NOT recommend.
One mistake some investors make is trying to second guess the stock market. This is extremely hard to do. Even investors who have been doing it all their lives are seldom highly successful. Statistic show that a person who invests wisely and doesn't take huge risks with their investment, are usually much better off leaving their money alone, versus trying to second guess what the stock market is going to do.
The stock market is cyclical. It goes up, it goes down. It's in a downturn right now, but it is only temporary.
You sound fairly young. If true, then you have plenty of time to make your money work for you.
Hope this helps. |
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Jeanne R
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If you have an IRA, just call your IRA company and ask for the paperwork for the rollover. After you sign the paperwork, they will take care of everything. If you don't have an IRA, then you need to open one. Give the IRA company the info and they will take care of the rollover. There are no penalties for rolling a pre-existing 401(k) into an IRA UNLESS you actually take custody of the check/money. As long as you have the IRA handle the transfer, you'll be fine.
Personally, I would roll it over to a self directed IRA account. First of all you get more investment choices than you do with a 401(k) and second, what if the old employer goes bankrupt? I think it is better to have the money in an account in YOUR name , not under the old company. |
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STEVEN F
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You CAN'T use a website, unless the institution that will hold the IRA offers that option on THEIR website. In any case, whoever holds the new IRA WILL provide all the paperwork and assistance you need. As long as the ENTIRE amount goes to the IRA, or a new employers 401(k) plan, there are NO tax consequences. |
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kittikisses
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After I quit my job I was faced with the same .I had my employer send my 401-k straight to Scottrade,and now its an IRA.Good luck to you |
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bud68
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Yes, it is easy to roll over into an IRA. You just need to pick the IRA custodian and investment(s) you want.
P.S. If you only lost 2.06% in the last quarter, it's actually doing quite well on a relative scale. |
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Krystal F
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I agree with Jeanne R; take control of your money by rolling it over to an IRA. You'll have more investment choices and peace of mind knowing you have 100% control over your nest egg. |
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Beau.Gus
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You can open an IRA and have it "rolled-over" without penalty, but you have to do this the right way. The Motley Fool has info on how to do this.
But it might be just fine where it is for the time being; the Dow has lost considerably more than 2.06% in the last quarter! |
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