To Rollover or Not to Rollover

by Mark Wong on April 2, 2009 · 0 comments

in Personal Finance

This week, after getting all the necessary forms from Vanguard to perform a rollover, I eventually decided not complete the transaction.

Advantages

  • With the market moving around like it is today, I’m keeping myself from making a big mistake.  The market has been shooting up recently, and I don’t want to miss out on the upswing.  If I were to have rolled it over into TD Ameritrade as I had planned, I would have had to leave a portion of my funds in a cash account for a couple of days.  Felt it was better to wait until the market was more stable.
  • Less paperwork

Disadvantages

  • If my account ever drops below$5,000, I’ll be charged custodial fees.  The market would have to crash really badly for that to happen, but it’s something on my mind.
  • Because I am no longer with my employer, I can’t make any contributions to this account.  Not a big deal for me.
  • It’s another account I need to manage.  Another password.  Another firm that might go under.

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