Where do I invest 30K of a cash balance left over with a previous employers 401K? ?

Question

I am debating if an IRA is a smart move and if so, who has the best managed IRA's.. ?

Answer 1

First you should never think about taking the money out.

Second, you should do a direct rollover from 401k to a IRA account.  You can open an IRA at just about any financial institution (like bank, brokerage firm etc).

I will suggest that you open an IRA at Vanguard and put your money into a Target Retirement Fund.  https://personal.vanguard.com/us/content...  Pick the one that is closest to your retirement year.

Best wishes.

Answer 2

Roll it into an ira so you are not hit for penalties and taxes.  Definitely

use no load mutual funds that way the entire 30k is working for you.

Favorites of mine are Fidelity and Charles Schwab.  They always have time to answer questions and I don't feel like and idiot for asking