what is the fee they charge for leaving 401k under T? Mine is growing nicely, and prefer to leave it there; serious replies only, thanks!
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mine is about $21 a year fees and is charged quarterly to items in the RSPnot the brokerage link
Just maintaining your 401K is something like $5 per quarter. Recordkeeping fee. At least mine is, I just checked.
There are fees for all kinds of stuff with Fidelity.
There are multiple plans, all with different fees.
A few months ago, I called Fidelity to find out how much a withdrawal/disbursement would cost.
My plan, has the highest cost @ $20. Several don’t charge for withdrawals/ disbursements.
A few had no charges for withdrawals.
There is no general answer for this kind of question
Seems to be minimal compared to my current employers new plan.
I have been retired six years. 401K still in tact with Fidelity and doing quite well.
I left T almost 2 yrs, and I left my 401k in ATT US Stock fund, so far the yield is 24% each yr with a “recording fee” of under $100 total
Get a financial advisor and get your money out of anything that is related to ATT. And do it now. It’s a dirty company and who knows what they will do next
Leave your 401k with Fidelity. ERISA plans are protected from creditors if you are ever faced with a lawsuit. IRA protections vary by state.
My biggest problem with Vanguard is they won't withhold state taxes. (Both an IRA and an inherited 401k.) Tried several times: they would say they could do it, and then the site would reflect the elections, but when the distribution came, it only withheld federal. Finally they admitted that they just don't because it's not required for my state. So I have to make adjustments in Schwab holdings which will let me make any withholding elections I want for both federal and state.
You can very simply roll the 401 into an IRA and still keep it at Fidelity, you'll have access to more choices, possibly save a tiny bit, and remove a layer of control.
I personally prefer Vanguard, but I'm mainly an index investor. The ultra-low expense ratios there make me happy. Fidelity is close, still low, but a tick higher than Vanguard for comparable index funds.
Serious reply. Fees are easy to find and fully disclosed. You can easily find equivalent investments that T offers in an IRA, along with endless other options. I wouldn't keep it there for the reason of fees.
Mine is still there since a recent departure, but will probably roll at some point. The fact that you're asking makes me think you're better leaving it there for now until comfortable moving, no offense intended. What T offers is nothing special.
But have you tried to use Vanguard’s website? Good returns, but the site needs work.
According it Clark Howard, a Fidelity’s fees are ok but Schwab and Vanguard’s are really low
Fees are dependent on what investments you have. Also could be an add on if you use one of Fidelitys extra investment support options like Financial Engines.