If I do an in-service withdrawal, where should I put those funds?

A financial advisor told me that a variable annuity is a good option, but not for me. Where should I put my in-service withdrawal? What is the max amount allowed in a 401(k) per year?

401(k), Annuities
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December 2017

It sounds like you are trying to pull funds from your 401k to find better investment options elsewhere? Good call avoiding the annuity- sounds like someone was giving some Non Fiduciary Financial Advice to make a commission.

You may be able to find other better investment options - with lower fees etc- outside of your work plan. Beware most plans won't allow you to contribute for 6 months after an in-service withdrawal.  So if you are trying to stay on track for retirement you man need to do a little planning ahead.

 

First step would be to see if you can re-allocate within your existing 401k- that is usually the easiest option if not the best.

 

-David Rae CFP

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