{ "media_type": "text", "post_content": "I’m leaving from 1 firm to another. Can anyone provide guidance on how to handle the 401k? Do I just do that directly with Charles Schwab?", "post_id": "60cbc78d9881e7002256ac96", "reply_count": 3, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

I’m leaving from 1 firm to another. Can anyone provide guidance on how to handle the 401k? Do I just do that directly with Charles Schwab?

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Open an IRA with any investment company. I use Fidelity. Then do a plan to plan transfer. This way you can choose the funds you want. Typically companies have less options in their 401(k).I am sure you could open an IRA with Charles Schwab too. You will also want to make a decision whether you were a do it yourself investor or do you want to pay a fee to a provider to do it for you. The cost is generally about 2% annually.

I just called up the broker for my old firm (Fidelity) and they handled it (transferred into a personal 401k)

For the record, there’s no such thing as a personal 401(k). You have a personal IRA. 401(k)s are offered through a business to employees.

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