If Conocophillips is sold off to another company, what happens to our company stock in the Vanguard stock fund? For that matter, if I'm laid off and I want to roll my 401k into an IRA do I have to sell those shares and then re-purchase them or can I just move them?
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When I got laid off back in the late 80's I took all my oil company stock, liquidated it and transferred to Vanguard low cost index funds. I wouid recommend this as a better strategy than leaving all your eggs in one basket. Vanguard, in particular, and other plans like it only charge fraction of 1 percent for administrative costs. You can read more about this in Jane Bryant Quinn's book "Managing your money" which I would highly recommend.
When I left the company 2 1/2 years ago, I rolled my shares to an IRA and still have the shares in my portfolio. Not my smartest move to date. Now is the time to hold onto your shares and ride out this down cycle.
You can move them to an IRA or leave them in the plan in your account.
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