Totally Fake Reader Mailbag Edition | Macho Money

Macho Spouse: machospouse - Civilian Male Military Spouse, Macho Spouse, Male Spouse, Dad, Father
Skip to MenuSkip to NavigationSkip to Main Content

Totally Fake Reader Mailbag Edition

Male Military Spouse Rob Aeschbach paraphrases discussions had about money with family, friends, and co-workers

Like Comment Subscribe
 

RobSitePic.jpg[These aren't real questions that avid readers have sent in, yearning for my sage advice. I'm just paraphrasing some discussions I've had about money with family, friends, and co-workers]

I just changed jobs. Should I leave my 401(k) with my old employer, or roll it over to my new employer's 401(k) plan?

No.

You shouldn't do either. You should rollover your old 401(k) into an IRA with low-cost mutual funds, like Vanguard. There are 2 main problems with 401(k) accounts in general:

 

image for Totally Fake Reader Mailbag Edition
Image for Totally Fake Reader Mailbag Edition –

First, the investment choices they offer are usually going to be fairly limited. They might not even have index funds. Opening an IRA with someone like Vanguard, Charles Schwab, or Fidelity gives you access to just about all of the mutual funds each company offers. It's like comparing a state-run grocery store in the Soviet Union to a well-stocked Wal-Mart in the United States.

(Click here for the rest of Rob's blog)

 

Rob Aeschbach is a male military spouse who spent 12 years as an active duty Marine before becoming a Navy spouse. Since then he has been a stay-at-home-dad for more than 10 years, served in the Marine Corps Reserve until his recent retirement, and started a personal finance blog.

Keywords: rob aeschbach, male military spouse, finances, macho money, 401(K), investment, retirement advice, financial planning

You may also like

post featured image

How Much to Spend on Christmas Gifts

Male Spouse, Rob Aeschbach, shares financial planning tips on Christmas spending and Holiday Budgets.

post featured image

Macho Money Video Series

Macho Spouse presents Macho Money Video Series to help Male Military Spouses learn financial management from USAA experts

post featured image

Military Saves Week Aims to Motivate Male Military Spouses to Better Their Finances

Military Saves Week 2018 is February 26 - March 3, 2018


 

Comments


Got something to say? SIGN UP or SIGN IN to join the conversation.