IRA Rollover

Question: Which IRA should I rollover my 401K to?

My company has recently merged with AT&T. I’ve heard Dave Ramsey mention that when a company does that it would give me ability to rollover my 401K to an IRA. Which IRA should I roll it over to. Currently Fidelity handles our 401K but my starone.org credit union also offers IRA’s. What should I do?

Answer: I suggest you find an investment ELP from Dave’s site and get his/her advice on what is the best action for you to pursue. In the meantime, double check with your HR department and see if you can roll over your previous company’s 401k into your own mutual fund/IRA. The investment ELP will need to know this information and if there is a window of opportunity to take advantage of this. It would be best if you can get your 401k with your own IRA/mutual funds because there are thousands on the open market and most companies only offer about 100 options. Even though AT&T is large, their offerings still won’t compare to the open IRA market.

Good luck!

Part 2 of Solo 401k vs. Self Directed IRA – Investment Options