I have 401Ks from several jobs, what's the optimal way to roll them over and consolidate them into a single account?
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Setup an IRA account at a place like E*Trade. Call up each of the places that you have 401k's at, and let them know you'd like to do a direct rollover. (You'll need your information from the account you just setup). You can either have those companies transfer the money directly, cut a check and mail it directly to E*Trade, or cut a check to you, and then you mail it to ETrade. Consult with the company that will have your 'target' account to determine how the check must be made out. E*Trade even has a handy guide for rolling over funds from other places. |
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I rolled my old 401(k) accounts over into my Vanguard account. It was completely pain-free. I rolled them into one of those "targeted retirement" accounts that automatically shift from more stocks to more bonds and cash as you near retirement -- though I suppose what you move them into isn't really material to the question at hand. |
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