Carry over 401k to new company

I used to work at Wells Fargo, and have about 200k in 401k over there, took a new job at BofA.

I haven't explored much fund returns in BofA yet, any suggestions if its better to move or leave there.

In my mind it comes down to expenses the participant (you) pays, and then fund line up choices.  I'd guess that the fund line ups are similar.  So dig in and figure it out.

With the amount you have in your account, you may want to find a financial advisor you trust to help.  If the financial advisor recommends to stay or move to Bofa, he/she is probably a keeper because they are looking out for your best interests.  If they just want you to go to IRA with no plausible explanation, move on.  Even if a friend.

1 hour ago, Mr Bagwell said:

In my mind it comes down to expenses the participant (you) pays, and then fund line up choices.  I'd guess that the fund line ups are similar.  So dig in and figure it out.

With the amount you have in your account, you may want to find a financial advisor you trust to help.  If the financial advisor recommends to stay or move to Bofa, he/she is probably a keeper because they are looking out for your best interests.  If they just want you to go to IRA with no plausible explanation, move on.  Even if a friend.

I'm surprised to see your default rollover is to the new 401k. 401k will nearly *always* have higher fees than the IRA; wouldn't you agree?

2 hours ago, 401king said:

I'm surprised to see your default rollover is to the new 401k. 401k will nearly *always* have higher fees than the IRA; wouldn't you agree?

Not necessarily a default answer.  I made the assumption that the Wells Fargo plan and Bofa plan are way high asset plans and expenses to participants are lower than most.  

If I managed my IRA, I would expect to pay "lower-ish" expenses.  But the money I have with a RIA to manage my assets, I will gladly pay her the commission.  (No, it's not high dollar IRA)

And the 401k plan I'm in right now the employer pays the plan expenses.  We have no 12b1's or SSF's mutual funds, so I will be hard pressed to move the money if that day comes.  Probably will come down to fund choices. 

You never really know how the expenses will shake out unless you dig in.

Good and fair question, tho.

6 hours ago, JohnS said:

I used to work at Wells Fargo, and have about 200k in 401k over there, took a new job at BofA.

I haven't explored much fund returns in BofA yet, any suggestions if its better to move or leave there.

Got to Vanguard and set up a rollover IRA account and roll the money into that account. Then, invest in whatever funds you decide you want. They will have pretty much the lowest cost.  I have ALL of my IRAs in the S&P 500 fund (cost: $40 per $100k, so about $80 per year for your $200k - I call that FREE!) plus our entire company retirement plan is also in S&P 500, which in the long run will provide the greatest dollars for retirement.  Nothing else beats it over time.  But I am not your investment advisor and you are not paying for this advice, and since it sounds like you are not an investment professional (not that I have great faith in many of them since very few of them ever beat the market, after taking significant funds from  you), you might want to find someone you have faith in, but I warn you, that is hard.  Consider someone you pay a fee to rather than someone who gets commissions.  Just some thoughts......

and back door Roths are a consideration.