davethecanuck wrote:
investing noob wrote:
Thanks everyone, I just found out my new 401k has an app. I uploaded the check through the app so hopefully it gets deposited soon. The app has a rollover section so this 401k is rollover friendly.
I like this new 401k and app. I might rollover another 401k from Vanguard too, since I have access to Vanguard funds in this new 401k too. Not a fan of Vanguards app or website.
Vanguard's website is clunky but it's arguably your best place to roll your 401k into (i.e. open a Vanguard IRA). Vanguard offers a wide selection of index ETFs and funds with the lowest fees in the industry. Most competing funds are very similar to each other so the only difference is in the fees as these directly eat away at your gains year after year (compounding negative interest).
You also want to use a self-directed IRA instead of a company 401k as you will get MUCH more selection in your investment options. Don't try to time the market; that's a coin flip as the current price represents the mid-point between the bulls and bears, so unless you know more than all of Wall Street, you're wasting your (compounding) time.
And stick with boring index funds. Source: I have 2 decades+ experience in trading and the financial industry and have been a self-directed investor (not trader) that whole time.
My new 401k has the same funds as the ones in my Vanguard 401k, plus a total stock market fund (VTSAX) that isn't available in my Vanguard 401k. I just do 100% VTSAX in the new one, it's easier than slicing and dicing large cap index, mid cap index and small cap index to try to mimic it. I prefer to have all my money in one account.