On a prior thread from 2007, I believe, someone suggested moving out of 401K into an IRA.
I did just that recently due to the opportunity of changing jobs. Had funds at a corp sponsored 401k (Fidelity) and moved them into a private IRA.
The IRA is protected at Fidelity (FDIC, SDLIC, acronyms correct?). There’s a type of protection they have above and beyond these but I can’t remember the term. But, I’ve always heard that Fidelity was a decent investment bank and some friends who I trust and who know a little about investing also have funds there and speak well of it.
This chance may not come up often. But it seems that there are far, far, more investment choices in an IRA than the handful usually offered at a company sponsored 401K. But,
you don’t have much in the way of borrowing options in an IRA; so make sure you know that first.
So, B007, you might want to research Fidelity. The company seems to be in good shape and they can give you ideas on what funds to invest in.
But the advice given in one or two comments provided already “If you don’t understand it; don’t invest in it” is good. Definitely buy some books on investing and talk to someone knowledgeable (who doesn’t stand to gain one way or another from your decision).
Also, something else I like is the ability to go online and research and pick the funds you want directly, without trade fees I believe. So, if you learn enough about the business, you could be completely self directed.
But, keep in mind, Fidelity is a privately owned company. And it has had its ups and downs too. One article I read indicated that while 2007 was a pretty good year for Fidelity, 2006 wasn’t so much. Good luck!
