I changed jobs after 16 years of teaching to work with blind  babies – 2 questions

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  • #82205 Reply
    Stephanie

      I now work for the state that has a pension. I am 40 and we have 1.6 million in investments. I have a Vanguard account.

      1. Where do I move my 401k money from my last job?
      2. Do I do a 401k plan or pension?

      #82207 Reply
      Kenny

        Rollover the 401k, preferably to Vanguard if that’s where your investments are. Not sure about the pension. That depends on age, finances, and your goals.

        #82208 Reply
        Sean

          Leave it where it is, move it to an IRA, or roll it into your new employers plan.

          If you’re above the Roth contributions limits or you might be in the future, you won’t want to roll it to an Ira. If not IRA is often best.

          Pension vs 401k would depend on the details of the plans they offer.

          #82209 Reply
          Jami

            Is your teacher retirement account the same as the states retirement account? (It is in my state). Contact your teacher retirement account to see what recommendations they might have.

            Congrats on your job change. Your work will really change lives.

            #82210 Reply
            Tony

              It will almost always be cost beneficial to move a 401k to an IRA. Cut out the middle man.

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