- Joined
- Jul 10, 2022
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- 5,305
I am in disbelief that at my age, so many "new" and never before experienced things continue to happen.
I had mentioned in some past thread that I do not check my retirement, maybe once a year. Because it's basically indexed by now etc.
Since I know things are at an all-time high, I got curious, and logged into Vanguard, 1/3 401k's.
I have a brokerage account there that was initiated when my wife worked there. It was the only account that showed.
My retirement is 7 figures there, so a bunch of thoughts raced through my mind. The most disgusting thing that I came across quickly, is that Vanguard is only open Mon-Fri.
I searched through Vanguard US Mail correspondence, and came across a letter stating my employer plan is moving to a new recordkeeper.
I go to that co's website and punch in my info, and get a response, your account is not eligible for web access. Interesting--but they would open at 9 AM EDT on Saturday.
Continue to search junk mail, and find a letter from this co stating that my retirement is moving to them, and will be locked out 9/11 through the end of September, and there will be no access whatsoever to the funds nor the account. It is NOT dated, nor was it sent first class mail. Looked like junk mail, no different than Andersen or Pella Window replacements.
I get that there is nothing I can do. But at least I know my funds are not gone. I'm just baffled thinking that things we believe to be under control, really are not. Just like oil changing, I just don't believe in paying someone to handle these matters.
For example, things of this nature, wouldn't a letter be sent first class mail? Vanguard's was--so the above scenario hinged on reading a Vanguard letter. imho the employer and the new co has a responsibility more so than Vanguard, who has no say. The real people in charge, my previous employer, or new "recordkeeper," did little to make sure folks knew what was going on. Again, there's no date on the correspondence, but in my estimation it was mailed <=7 days from 9/11.
Most things in life I can shrug off, but I'm just not in a position to recover if 7 figures of retirement funds were gone. Very strange--my cousin likely gave me good advice that I didn't take--he said never leave your 401k with your previous employer when you change jobs. Put it in a personal IRA. The end
I had mentioned in some past thread that I do not check my retirement, maybe once a year. Because it's basically indexed by now etc.
Since I know things are at an all-time high, I got curious, and logged into Vanguard, 1/3 401k's.
I have a brokerage account there that was initiated when my wife worked there. It was the only account that showed.
My retirement is 7 figures there, so a bunch of thoughts raced through my mind. The most disgusting thing that I came across quickly, is that Vanguard is only open Mon-Fri.
I searched through Vanguard US Mail correspondence, and came across a letter stating my employer plan is moving to a new recordkeeper.
I go to that co's website and punch in my info, and get a response, your account is not eligible for web access. Interesting--but they would open at 9 AM EDT on Saturday.
Continue to search junk mail, and find a letter from this co stating that my retirement is moving to them, and will be locked out 9/11 through the end of September, and there will be no access whatsoever to the funds nor the account. It is NOT dated, nor was it sent first class mail. Looked like junk mail, no different than Andersen or Pella Window replacements.
I get that there is nothing I can do. But at least I know my funds are not gone. I'm just baffled thinking that things we believe to be under control, really are not. Just like oil changing, I just don't believe in paying someone to handle these matters.
For example, things of this nature, wouldn't a letter be sent first class mail? Vanguard's was--so the above scenario hinged on reading a Vanguard letter. imho the employer and the new co has a responsibility more so than Vanguard, who has no say. The real people in charge, my previous employer, or new "recordkeeper," did little to make sure folks knew what was going on. Again, there's no date on the correspondence, but in my estimation it was mailed <=7 days from 9/11.
Most things in life I can shrug off, but I'm just not in a position to recover if 7 figures of retirement funds were gone. Very strange--my cousin likely gave me good advice that I didn't take--he said never leave your 401k with your previous employer when you change jobs. Put it in a personal IRA. The end

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