Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Another question (may be silly), but if an employer creates your fidelity account and you leave the company, you can keep it right ? Or can you everything transferred elsewhere ? I don't want to run into any issues down the line. This is why I thought about making a separate account.
My wife just retired and we transferred all of her company accounts to Fidelity. Easy peasy.
Another question (may be silly), but if an employer creates your fidelity account and you leave the company, you can keep it right ? Or can you everything transferred elsewhere ? I don't want to run into any issues down the line. This is why I thought about making a separate account.
Fidelity is just the custodian if the account. Over you leave, you can move the account somewhere else if you so choose.
Yes, when you leave a job, you can transfer as much as is already "vested." The vesting requirements are different everywhere. Gotta be sure about that. Important step: find out about that.
I am considering contributing to my 401K, I read through the options earlier. However, things are expensive these days and I am heavily taxed so my contributions won't be much.
Another question (may be silly), but if an employer creates your fidelity account and you leave the company, you can keep it right ? Or can you everything transferred elsewhere ? I don't want to run into any issues down the line. This is why I thought about making a separate account.
Very easy to move BUT be sure you do what is called a trustee to trustee transfer. If the money comes to you first you could end up paying taxes. (you may have 60 days to roll over but I am not sure.)
Your employer will have rules for you to follow. When you leave the company you would tell them you want to roll over the money to x brokerage account. You would tell the new broker (could be Fidelity) what you are doing so the account is set up correctly. You can not put the money into a regular brokerage account you have. You might be able to have Fidelity start the transfer. Ask then if they can.
Very easy to move BUT be sure you do what is called a trustee to trustee transfer. If the money comes to you first you could end up paying taxes. (you may have 60 days to roll over but I am not sure.)
Your employer will have rules for you to follow. When you leave the company you would tell them you want to roll over the money to x brokerage account. You would tell the new broker (could be Fidelity) what you are doing so the account is set up correctly. You can not put the money into a regular brokerage account you have. You might be able to have Fidelity start the transfer. Ask then if they can.
Thanks ! I would like to keep my accounts in fidelity for now, but this helpful information.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
