Quote:
Originally Posted by captainofiron
Hey guys, good info on here.
I need some investing advice
I just recently switched jobs, so my old 401k is now just sitting there waiting to get picked at by the companies fees.
My new company offers a nice 401k as well, AND free financial management.
So today I talked to the guy who does all this for us.
He was talking about either rolling my old 401k into my new 401k OR rolling it into an IRA
He suggests the IRA because you can make more choices, thus have a higher potential of making more money.
Im a little leery, as I am more conservative when it comes to money and the fees and such of this type of investment are a little unnerving.
Is this guy giving me good advice? Or is he putting me on a path that HE will make the most money from?
Thanks
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#1 -- You don't tell us much about who "He" is. Is this someone that works for the company and manages the 401K? Who is he?
#2 -- You could have "rolled" your 401K into an IRA immediately after departing the last company and have been running it "self directed". You don't need anyone to run an IRA for you. So there would be no "fees" etc to pick you apart.
#3 -- Nobody can tell you what to do - nobody knows your personal financial situation. Read this thread and learn -- so go back and start at page one.