401(k) facepalm

March 20th, 2009 at 10:15 am

I just found out from my old employer that, unless I was still actively employed with them by the end of December, I would not get any company match in my 401(k).

So... all that effort over my 401(k)... is for naught. Sigh.

But, I'm trying to see the bright side of this, and basically, it's still money I am investing, and I can roll this to an IRA now instead of later!

Now, the question is, where should I roll this to? Vanguard and their famed index funds? Fidelity along with my new 401(k)? Or here's a crazy one, what about Scottrade and micro-manage my own portfolio?

Posted in Uncategorized | 7 Comments »

7 Responses to “401(k) facepalm”

frugaltexan75 Says:
March 20th, 2009 at 10:47 am

Oh my! That sure is an annoying thing to find out *after* the fact. Too bad they didn't mention it before you went to all that trouble.
Broken Arrow Says:
March 20th, 2009 at 11:18 am

Hehe yeah, if I was smarter, I suppose I would have thought of asking first, but who knew? Learn something new every day.
crypticsailor Says:
March 20th, 2009 at 11:24 am

I am relatively new to investing and all(I've had a Thrift Savings with the military for 2 years and a 401k with an employer for 1), but I would say in either case its a better decision than a 401k now. If it weren't for my employer matching 3% and half to 5%(I contribute 6), I would have lost a really big amount of money as it dropped about 40% : /
monkeymama Says:
March 20th, 2009 at 01:45 pm

Did you contribute for 2008, or 2009?

If it was 2008, you still got a pretty awesome tax deduction!

If it was 2009, I think I thought the same thing. Guess I should have said something. I figure you knew what you were doing. (Off the top of my head I can't remember the details). I'll open my big mouth next time though.
monkeymama Says:
March 20th, 2009 at 01:47 pm

2009, huh? (I just checked). Yeah, I should have mentioned since I don't think it is common to match terminated (or bought out) employees. Oops.

Hey, the market may soar this year and you will be glad to buy in early. We'll hope for that...
dmontngrey Says:
March 20th, 2009 at 04:17 pm

Seriously?? That was a pretty crappy written plan if I do say so myself! Our plan sends contributions AND the match on a weekly basis. I should know - MY job to do it.
Broken Arrow Says:
March 20th, 2009 at 04:56 pm

Awww, that's so sweet, for thinking that I know what I am doing.

Fortunately, it's still a tax deduction, and that will still make some room for me to convert some of that money into my Roth.

All-in-all, it's a good kind of problem to lament about.

BA

Could be worse....

401(k) facepalm

7 Responses to “401(k) facepalm”

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