Have you moved money into safer havens / cash positions?
- Thread starter NoleATL
- Start date
So heres a question I want to ask. I don’t know much money stuff but. Can you pull whatever money you have in 401k and move it somewhere else? How does it work? Where would a guy move it ?
Thanks
Might be able to move it if you are age 59.5 or older, or for some other reasons. But don’t have to move it to make investment changes, you can take more or less risk within your 401k plan. If you move it you would take it to an IRA or Roth IRA.
Honestly I guess I have no idea.
I suppose yeah I want to have less risk but the investments in my 401k are preselected no?
So I’m guessing I can’t take that money out and move it to a different option? I suppose if I do there is a penalty?
Honestly talk to your employer. Usually you will have some reasonable control over where your investments are allocated.
Well you can’t just withdraw it. Reallocating options with the plan depends on your 401k plan. Ours is with vanguard. With vanguard there all kinds of different funds you can reallocate. So, you could be 100% in a fund reflecting the S&P 500 as a whole, or 100% in the money market, or any combination thereof or other investment choices. But the money is still in the plan. Whether there is a way to move your 401k account to another institution I have no idea.
I’m assuming this 401k is through your employer and you’re still contributing?
You should log on to your 401k provider site and take a look. A) Make sure you’re actually invested in something. Just because you’re contributing portion of your paycheck doesn’t mean it’s best invested B) Your can easily change your investment options. Typically there’s target funds based on the year you’re expected to retire and a handful of ETfs. You can always change allocation of portfolio to say 50% stock ETF and 50% bond ETF. Things like that.
You don’t have any control over the options in your plan, but you get to pick from those options as you choose. Almost every 401k has a money market or stable value investment option, which are low risk.
I’m 36 and 100% equity portfolio. I actually upped my Roth contributions this year another 2% to 8% overall. I’ll be gambling with crypto per usual with fun money and hopefully making grips of more fun money.
In reality, no matter who is president, it’s all dependent on where you are at financially and what your goals are. Make money HORT!
In reality, no matter who is president, it’s all dependent on where you are at financially and what your goals are. Make money HORT!
Didn’t say he was a genius. I said talk to your financial advisor(s) about your investment concerns before making any changes. Besides, a lot of you wouldn’t like what he said regarding where we are financially and why.
Talk to your financial advisor, not mine unless it is ML/BoA.
Wait, I was supposed to be invested in something other than cash to begin with??? 😒
That would be a no but I am getting calls in the middle of the night saying…”blue horseshoe loves Endicott Steel” or “blue horseshoe loves Cifra”.
I would imagine that your 401K has several investment options, with one being a stable value or money-market type fund, so you could simply move your holding(s) into that. However, you should probably check with a trusted financial source to see if that is appropriate in your specific situation.
This is interesting. Last night S&P futures were positive .30% or so. Now negative .5%. Buckle up.
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Got out last week. Locked in my massive 2.3% YTD gain this year (on top of last year’s best year in long time). Timing on getting back in is largely dependent on if this country’s citizens will force the craven GOP in Congress and cabinet to stop Trump and Musk for destroying the economy and stabilize things. Or if it dips below 35% off peak.
We are thinking the same on this. And wow if it dips 35% I just might be able to retire early after the eventual rebound.
I’m not Jesus and neither are you.
I had a hell of a year plus. Beat the market by a lot
No one knows. No one can time.
We are stretched out on my stocks. Hedge funds don’t know
Politicians know about individual companies.
Don’t see much upside for couple months
Some I put in short cds to keep me from completely jumping in. My trading accounts cash is getting 4 percent plus.
Yep! It can happen with all the gains last 14 months though.
However, if our government makes a concerted effort to crush the economy, it seems naive to ignore it. It’s tough to time the market, but sometimes things are predictable.
There is something to be said for peace of mind. I’ve moved 30% to cash. If the market goes down I will be glad I did it. If it goes up I will consider the lost profit to be the cost of peace of mind.
No, it was not. The market is responding negatively to tariffs and chaos, neither of which would be a factor if not for the vile idiot in the White House.
This is the key part most are missing. What’s happening to our economy from incompetence at best, treason at worst, is unlike anything that has happened before and thus the clear signs the already fairly overheated and ripe for perhaps a mild correction stock market may now be up for having a major correction. And all of it is being artificially created by tariffs and recklessness to federal government agencies
Moving it from your 401K into a IRA would not be a taxable event. Moving it anywhere else would be, plus you might have a penalty, depending on how long you've had the money in your 401K. Don't take my word for it, better to talk to a FA.
