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What should I do with my 401(k) account after retirement?

Two years ago when I turned 59.5 years old, I rolled over a portion of my 401(k) to an IRA account. I recently retired and my remaining 401(k) account has gained favorably compared to my rollover account. I don't plan to tap in to either account yet until a year later. Should I leave my 401(k) account and roll it over later then? Or are there any better options to invest? It is valued at $220,000.

Financial Planning, Retirement, Investing, 401(k), IRAs
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3 weeks ago

This is a great question and there are a number of things to consider:

1) What are the overall costs for each account?

2) Although the 401(k) has performed better than the rollover, could this be due to the allocations being different?  Are you taking more or less risk in one over the other?

3) Are there benefits to maining the 401(k) account, access to funds, professional management, funds that may not be available outside the plan?

There are several questions that should be answered and the accounts should be reviewed as well.  I would highly recommend engaging a fiduciary advisor to review both accounts, the asset allocation, discuss benefits and disadvantages and help you determine the best game plan for you.

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