I need to move my 401K from a past employer, what is the best way to do that so I don't get hit with huge fees? Where is the best place to put the money?
Tax Professional Answers
If you plan to stay employed at the company where you have the 401(k) account, and the invesrtments are doing well, it might be a good idea to leave it there for now. If you need the money, you can take a loan up to $50,000 and re-pay over 5 years. Here too, there are fees connected to your account. Most employees never really look at the quarterly statement. You should. It tells you a lot.
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