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> "Never open one of your 401(k) statements from the day you start work to the day you retire, 40 or 50 years later." Metaphorically, yes. But you absolutely s
by josh_fyi 7y ago
> "Never open one of your 401(k) statements from the day you start work to the day you retire, 40 or 50 years later."
Metaphorically, yes. But you absolutely should open them periodically. If there has been theft or an error, you want to report it immediately, not 50 years later.
- walshemj 7y agoAnd you may have several pensions (401k)s running at the same time so you do need to make sure you are happy with the allocations' I have three pensions plus my SIPP (self invested) running at the moment.
- toomuchtodo 7y agoWhenever you leave a company, you should roll your 401k over to a Traditional (or Roth, if you had a Roth 401k) IRA, as the fund expense ratios are usually cheaper (I recommend Vanguard).
- walshemj 7y agoUm I mentioned Pensions - I just added the 404 the usa's poor relation to even a DC scheme for context for US readers. We don't have IRA's we do have ISA's which are awesome in comparison (basically remove £20k pa into a tax efficient account) I think my main DC pension is about .5 and I will be moving my small NEST (government scheme) over to my self run pension shortly.