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Croc
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 As a matter of interest (if this is not too personal a question), why does one flip from a 401k to an IRA and wouldn't the two types of investment have taken a similar hit in current markets?

 

A 401K is company-sponsored defined contribution plan encompassing multiple employee defined contribution investment accounts while an IRA is individually owned defined contribution investment account.  Some US companies with 401Ks have rules where you must transfer your funds on retirement.  Or you may want to do it anyway to get better investment flexibility as you are restricted by the investment options available.  I have both an IRA account from my former employer and a 401k account with my current employer.

The monetary hit each form of retirement investment vehicle has taken in recent months will be solely down to the investment allocation choices made.  

I am the trustee for all my company's US retirement plans but that did not stop me losing money in my IRA whereas my 401k was relatively unscathed.  I should have known better... Whistle    

 

Brightonuk
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Yep I left my job so I couldn't stay in the 401K I got the check for the my total 401K and you have to flip it to avoid some hefty gov penalties  (not quite at the age where I dont pay those penalties)  I had the check in hand and sent it off to invest in an IRA and a week later Covid 19 hit.

I should of made friends with these sleazeballs 

https://thehill.com/homenews/senate/488593-four-senators-sold-stocks-before-coronavirus-threat-crashed-market

 

 

Life Can Be Crule

Gnockoff
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Classic case of insider trading, but it would seem that normal rules don't apply to Trump and his associates.

Blokko
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Ah, makes sense - thanks.  My 401k is in a 2035 pot - not sure at what point they start the move towards 'safer' instruments.

The plan is still to retire to the UK, so I have to work out the intricacies of the taxation across the two jurisdictions.  Not going to worry about that one just yet....  Who knows, by the time I get to retirement age Florida may hold an appeal that it does not right now Biggrin

Good Luck Sending Any Senators to Jail for Insider Trading on Coronavirus

Steve.
Proud poster of mindless drivel on BlatChat since 2006.  

Croc
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I should of made friends with these sleazeballs

Yes - I was infuriated when I read about this.  One rule for them and the rest of the smucks can eat cake.