Rolling my Fidelity 401k to Vanguard IRA…
… was super easy so far! I couldn’t complete the process 100% online (which is something I strive to do in every transaction of life), but it just took one easy phone call to Vanguard, who got Fidelity on the line, and the wheels are in motion!
Apparently Fidelity insists on sending a check (made out to Vanguard) to ME, and I forward it onto Vanguard. Seems weird, but I had done some Googling in advance and expected it. They said it will take 7-10 days, or I could pay $25 to get express mail. I’ll be waiting the 7-10 days.
The transaction was at the price of Wednesday’s closing markets, which i thought was great since we had over a 2% jump in all the major indices that day. That was pure luck of timing, something I forgot to even consider. A good portion of my money is out of the market for a total of about 2 weeks, so if the market is going to crash, I’d prefer it happens in that time period. I’d also appreciate any major rally’s to wait until my money gets back in (looking at how today is starting, I may be out of luck). I know “timing the market” is futile, but doesn’t it seem like it would be prudent to watch for these huge 2% jumps/drops when moving 60% of my retirement portfolio around? What if I miss a really great day because my money couldn’t be transfered online instantly? I don’t understand why the process is so manual, but what can I do?
If everything goes smoothly, I will add in my meager pension cash out money immediately after the 401k money is rolled over. I have to wait since the amount is below the 3k per fund minimum.
My last consideration is my Roth IRA. It is currently 100% invested in a fidelity target date fund, which is nothing to worry about. It would be nice to have it at Vanguard with my other money, but there is a $50 fee to transfer the account and I’m not entirely unhappy with the fund as is, so maybe I’ll just leave it. It just is harder to figure into an asset allocation plan, especially sine the Fidelity target date funds don’t have quite as straightforward holdings as the Vanguard ones.
Taking care of this has been on my “to do” list for months, so it feels nice to actually be doing it.