E46Fanatics - View Single Post - Rolling over 401K & down payment savings
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Old 03-13-2017, 06:26 AM   #2
Wraisil
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Join Date: Apr 2004
Location: Acworth, GA
Posts: 219
My Ride: 2010 Infiniti G37
As a general rule, you'll roll your old 401k into an IRA if you move it to a self-managed account (instead of another company 401k) unless you're self-employed or otherwise eligible for a solo-type 401k plan. The tax advantages are the same, the only "downside" really is legal protection from creditors in some states is not as robust for IRAs as the federal protections in place for 401k's. Just be sure you set up two separate accounts, one for the roll-over and a separate one to be used for the down payments money.

Vanguard is a great brokerage for long-term investing when using their funds. Can't hardly beat "free" and they have some great funds with very low expenses. I use TD Ameritrade and take advantage of their commission free ETFs (including some Vanguard funds) but I'm with them primarily for reasons that aren't applicable to your situation (what they offer for trading stocks instead of investing for instance). I can't think of any compelling reasons to use a brokerage other than Vanguard in your situation of the top of my head though.
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