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401K rollover while still working???

Last post 08-11-2008 6:18 PM by scottb. 1 replies.
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  • 08-10-2008 10:13 AM

    401K rollover while still working???

     A recent ad in the Houston Chronicle finance pages (8/10/08) suggests it is possible to rollover money from one's current, active 401K.  It directs you to a website, www.RetireRx.com/safer401K, where a brief video implies this is possible and invites you to sign up for the "free information".  I was, of course, intrigued by the possibility of transferring my 401K funds to an individual IRA where I could build a low-fee couch potato portfolio instead of paying the typical high fees and overhead of most 401Ks.  I smelled a rat, however, and did not sign up, fearing it might be a come-on that would subject me to spam and/or calls from "financial planners".  Does anyone have more info on this?  I this a legitimate option or a scam to get my personal info?

  • 08-11-2008 6:18 PM In reply to

    Re: 401K rollover while still working???

    This is an insurance product marketing company. It will sell you expensive products. You'll be better off staying in your 401k plan and doing a rollover to the firm of your choice when you retire. At that time you'll be able to build a Couch Potato Portfolio. If your plan has a "brokerage window" you might also be able to build a Couch Potato portfolio inside your existing plan. I did that with the Fidelity plan offered through my former employer, the Dallas Morning News.

    Scott

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