Should I Stay or Should I Go?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 13 August 2024
⏱️ 17 minutes
🧾️ Download transcript
Summary
I feel like it may be time to roll my IRA somewhere else with less fees. Should I do it?
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Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. |
| 0:05.1 | It's Tuesday, August 13th, and we are here trying to help guide you to make better life decisions that happen to impact your money. |
| 0:13.1 | See how I kind of thread the needle there. |
| 0:15.8 | Every decision you make in your big life decisions usually impact your money in some way. I know, even falling in |
| 0:23.4 | love does. It's crazy, but we know that the big life decisions usually have some sort of financial |
| 0:30.4 | impact. So when you're going through a big decision, maybe it's a new job, maybe it's how much |
| 0:35.5 | should I spend on a wedding? I'm in high wedding mode. I'm in the middle of six weddings this year I'm intending. So I'm thinking about this about so many of the young couples that are partnering up and getting married and the ridiculous amounts of money that everyone's spending on these affairs. I know it's great. It's love. It's happy. I'm happy for you. But maybe you should be making a different decision. Maybe you'd say to your parents like, I don't want a wedding. Maybe I really want the money and I want to buy a place. Maybe. Maybe. We'll see. But if you're making a big life decision, get in touch with us. Go to jillonmoney.com and click the contact us button. When you write us that note, |
| 1:12.1 | it's an email and we do email episodes, which we do from time to time, including today. |
| 1:17.5 | If you'd like to join us live, then check the box and Mark will do everything else. |
| 1:21.4 | Don't forget to sign up for the free weekly newsletter, which comes out every single Friday. |
| 1:26.1 | Mark does a great job with that, and I don't think you want to miss it. |
| 1:30.0 | Okay, let's start the show with an email. |
| 1:32.2 | This is from Brad, who says, I really enjoy listening to your content. |
| 1:36.6 | I always learned something. |
| 1:38.1 | I'm 32 years old and recently just changed jobs. |
| 1:41.4 | Congratulations. |
| 1:42.7 | Brad works in health care, and he says, what should I do with the money |
| 1:46.6 | in my 401k from my old job? It's around $150,000. Should I leave it in the old account? Should I try to |
| 1:54.7 | roll it over into my new 401k? In basic terms, having one account would be easier to manage for me, |
| 2:00.1 | but are there any disadvantages or penalties in combining? |
| 2:04.2 | Okay, this is important, gang, because Brad says, I prefer the investment options in my new 401k account, which is offered through Fidelity, over the old choices. |
| 2:14.3 | But the expense ratios are slightly higher with F fidelity. If I don't roll over my new |
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