401k Rollovers and IRAs- Finally!

Posted by Mrs Money on May 15th, 2014

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The last time I talked about my ROTH IRA, I mentioned how my laziness cost me $115.  Well, I no longer will be losing money due to silly fees at the old brokerage firm.  I finally moved my IRA over to Vanguard and couldn’t be happier! It’s a huge weight off my shoulders and I’m looking forward to contributing as much as I can every month.  It may not be a lot, but I figure every bit counts and the earlier I get the money in there, the more time it has to grow.

I also transferred my old pension from working at the bank and Mr. Money’s ROTH IRA to Vanguard as well.  It’s starting to look good!  I feel very optimistic because having everything at one institution just makes sense to me.  The only thing I haven’t done yet is moved over my old 401k from working at the bank and I’m unsure if I’m going to do that.  I know part of it is traditional and part of it is in ROTH. I cannot tell how much money is in each, and that makes me nervous that they’ll mess up the transfer and I’ll be penalized on my taxes.  However, I do realize that this is probably very silly since the institutions specialize in these kinds of things so they should know what they are doing.

Now for retirement we have: my old 401k, Mr. Money’s ROTH IRA, my Traditional IRA, and my ROTH IRA.  I will be very happy once this all is finalized.  My traditional IRA is still in progress and I’m hoping that will be done in a few weeks.  I’m hoping to start contributing monthly to one or both of our IRAs as we are able.

Mr. Money has the option to contribute to a 401k with his employer but we’ve decided not to do that currently, as they don’t offer a match.  It just makes more sense for us to contribute to our IRAs right now.  If they offer a match in the future we would take advantage of that.

I should call the brokerage firm where my 401k is held and ask what the process is to roll it over or if they can tell me how much is in each part.  I should have taken care of all of this years ago, but I was afraid.  I was afraid of investing in the stock market and losing money.  However, I feel like if we don’t, there’s absolutely no way our money will grow enough for us to be able to retire off of it.  Thanks to my friend Kacie for spurring me to get this all done and answering so many of my silly questions!

I hope this alleviates some stress for me.  I always worry we won’t have enough money and now I’m being proactive to ensure that doesn’t happen!  Now I will just have to start contributing as much as we’re able to, and we’ll be good!

Do you save for retirement?  Do you ever worry you won’t have enough money?

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2 Responses to “401k Rollovers and IRAs- Finally!”


  1. Kacie says:

    Woo hoo! Good work!

    So last week I finally opened a taxable investment account with Vanguard. I wanted a place to grow money, money that isn’t earmarked for savings or retirement … just… extra.

    I sent a lump over and chose my investment, which is a Vanguard index fund that is like 60% stock and 40% bond (index funds within that).

    The first day, it gained $3. The second net $0. Today i’m down $20.

    I need to STOP CHECKING IT EVERYDAY GEEZ. I’m mostly curious, as I’m fine with the investment choice. But yeah it’ll be nice to see it up rather than down.

    [Reply]

    Mrs Money Reply:

    Kacie- same here! I love checking ours to see what we’ve gained. Not nice to see if we lose anything ;) I need to not check ours once all of the rollovers are all done.

    Thanks so much for your help!

    [Reply]



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