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What is the most productive way to re-invest my 401K contributions from a former job? |
I used to work a big corporation which I used to contribute to my 401K. I ended my employment in 1989 to pursue a consulting job. Every once in a while, i get a statement on my account but since I have not been contributing to it, there is not much significant growth to the funds. I was told to move this fund t an IRA account. Is this good idea, or is there a better way or a better account to invest my funds for bigger returns? I think the most effective way is to go to Reno and put all on lucky 7 I would move it to a Roth IRA. Take the tax hit now instead of later. Move it to a rollover IRA where you can invest it in the stock market. |
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Unlikely that kind of growth in mutual funds. They are for safe, slower growth investing. You would need something volitile, like oil stock to make that much money that quickly, and you stand to ... TC nailed it there are plenty of NO LOAD mutual funds out there that are very affordable. Take a look at CWGFX (I own it) for a good well balanced all world affordable fund. ...it depends upon- the investment plan u invest if u use one - which has lockin period then- u cannot withdraw money - but more interest if u use one without lock in period- more risk, ane time... for low risk make 5 part invest one in Gold fund, balance fund , chola hedge fund, FOF, MIP hdfc icici uti sbi are good more on my blog ...check for rating reports on mutual funds - either Fitch or CRISIL...that should indicate the pool asset quality and performance - especially systems in place for fund managers etc ...Attempts to time the market are futile. Instead, try investing your money bit by bit, month by month so that your cost averages out. If the market goes up, you'll still get gains, if the mar... no idea ICIC has good funds and accounts ...You can put as much money as you want inot an account for as long as want. Some funds do have minimum amounts and some my charge a fee if the money is in for too short a time. Contact a fund co... |
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