I recently changed employers - my new 401(k) plan is managed through Merrill, while my previous is at Fidelity.
I have just under $900k in the Fidelity 401(k), almost all of which is in a Vanguard 2030 fund, with the rest in an income fund. The 401(k) is up a decent amount relative to contributions. I have no TradIRA balance, and do back-door Roth IRA every year into my Fidelity Roth.
My 401(k) at Merrill has a Self-Directed Brokerage option (which I'm using), and I'm investing in VTI & BND through that. It also allows after-tax contributions and has automatic in-plan Roth conversion for after-tax contribs (I'm maxing out both pre- and post-tax).
I was planning to leave my previous 401(k) in place and let it ride until I fully retire in ~3yrs, after which I'd start working on Roth conversions if/as they make sense. Beyond the simplicity angle, are there any compelling reasons to consolidate the Fidelity 401(k) into the Merrill account? All of my other retirement and after-tax investments are held at Fidelity.
Thanks!
I have just under $900k in the Fidelity 401(k), almost all of which is in a Vanguard 2030 fund, with the rest in an income fund. The 401(k) is up a decent amount relative to contributions. I have no TradIRA balance, and do back-door Roth IRA every year into my Fidelity Roth.
My 401(k) at Merrill has a Self-Directed Brokerage option (which I'm using), and I'm investing in VTI & BND through that. It also allows after-tax contributions and has automatic in-plan Roth conversion for after-tax contribs (I'm maxing out both pre- and post-tax).
I was planning to leave my previous 401(k) in place and let it ride until I fully retire in ~3yrs, after which I'd start working on Roth conversions if/as they make sense. Beyond the simplicity angle, are there any compelling reasons to consolidate the Fidelity 401(k) into the Merrill account? All of my other retirement and after-tax investments are held at Fidelity.
Thanks!
Statistics: Posted by PNWHiker — Fri Aug 30, 2024 11:15 am — Replies 7 — Views 355