401k Question

[annasaf83]

Hello all, I'm 24 years old and I've got a 401k from my last employer, my current employer does not offer a 401k. I'm wondering if I should roll over my 401k to a personal 401k and make my own deposits or keep it where it is and let it sit until I am at a job that has a 401k program? I suppose that's a personal choice, but has anyone done either of these things before? any suggestions? Thanks in advance!

[sweeps]

Roll it over to an IRA at Vanguard, Fidelity or T. Rowe Price. Optionally you can convert it to a Roth IRA -- that means you'll pay taxes now but you won't have to pay taxes later.

[glomerulus]

401k

As suggested by sweeps, I would roll it into Vanguard IRA or Roth IRA and get an index fund with Vanguard.

For the time that your employer does not provide a 401k, I would establish a Roth IRA with Vanguard and contribute the allowed $5000 for this year provided your salary is less than the allowed.

Its good that you have started planning for retirement at such a young age.