IRA and 401(k) both are retirement funds that ensure you have sufficient money when you no longer work. I though this would be a good followup post after yesterday’s post on IRA Vs. 401 (k). Do you know that in 2010, 11 Million 401 (k) to IRA rollover conversions happened? We do not have data published yet for 2011. But, the highlight is that almost twice the number of people should have rolled over had there been enough help and advice available at their finger tips. Financial Literacy in this country is still not enough. There is a lack of concerted effort in educating people on managing personal finances. Recently I have come across FiPath’s Express Rollover Recommendation tool, while researching for IRA Vs 401(k) roll over options. This is perhaps the only tool/help/guide available in the marketplace today that can guide you in your IRA rollover process. If money is sitting in your previous employer’s 401 (k), you would do a ton of good to get it rolled over to IRA, as you will have a freedom of choice. You can micro manage your retirement fund the way you think best suited to you. You will not be limited to a few target date funds, and you will also lower your overall investment costs. Reasons
