logged into account and money gone

I retired back in May. It's been GLORIOUS, despite some serious health and financial setbacks. Highly recommend! American men average age at death=73.

UBS= terrible. Yes I've made money with them, about 4%/yr. They sold a bunch of my stock without informing me. Excuse=my agent was on sick leave. Result=huge taxes and penalties (about $200K worth). As I had other windfall income that year that I could have delayed.

Ameriprise (used to be American Express investments) = Utterly unconscionable. Burn-y Mad-eoff awful. Used them for my IRA. Put in the max every year for my entire career. I have $35K in there now after their mismanagement.

PNC= Fair. I put money in 3 CD's with them, at a decent rate. Went back to check on my CD's and move funds around and found out they did not put some of my funds in the CD as requested and instead left it in savings. Ugh. I had only one small CD. The MM account had near zero interest. Moved my money out.

Vystar credit union= superb. No nonsense. They did exactly what I asked for, when I asked for it, and I got the expected results.

Solomon Citi, Morgan Stanley Smith Barney or what ever they call themselves now. I don't do business with them anymore. Too big to be helpful
I have almost two years left then,
 
Yeah - much as I like Vanguard, leaving the administration of your entire retirement account to your prior employer ties you to them.

Not something I would want.

Roll it into an IRA. Pick a good company with which you’re comfortable. Vanguard would top my list of recommendations.
Good advice and I’d agree 99% of the time but there’s a caveat that might change your decision making.

IF you no longer work for a company (Laid off, quit, fired - doesn’t matter) AND you’re over age 55 then you can take withdrawals from a 401(k) without the 10% early withdrawal penalty.

401ks only - this doesn’t apply to IRAs

I was laid off at age 57 and this is what let me decide to take early retirement. As soon as I was 59-1/2 I rolled my 401k into an IRA.
 
Yeah - much as I like Vanguard, leaving the administration of your entire retirement account to your prior employer ties you to them.

Not something I would want.

Roll it into an IRA. Pick a good company with which you’re comfortable. Vanguard would top my list of recommendations.

I don't understand, I retired 7 years ago and my employers 401k is administered by Vanguard. I also have a personal account with Vanguard and Both are tied together. I have been happy with them. What do you mean by tied to my employer. I am in a fund which is closed to new investors(Primecap) and have been happy with it for almost 40 years and would not like to lose this fund.
 
I don't understand, I retired 7 years ago and my employers 401k is administered by Vanguard. I also have a personal account with Vanguard and Both are tied together. I have been happy with them. What do you mean by tied to my employer. I am in a fund which is closed to new investors(Primecap) and have been happy with it for almost 40 years and would not like to lose this fund.
I think he means to open an IRA with Vanguard and transfer your 401k to the IRA account. It opens up your investment choices and cuts out your former employer. It's fine to keep what you have but you need to assess if what you started 40 years ago is still the right type of investment in retirement.
 
I think he means to open an IRA with Vanguard and transfer your 401k to the IRA account. It opens up your investment choices and cuts out your former employer. It's fine to keep what you have but you need to assess if what you started 40 years ago is still the right type of investment in retirement.
Thanks! I am happy with my asset allocation. What impact would my former employer have on my mutual funds?
 
Thanks! I am happy with my asset allocation. What impact would my former employer have on my mutual funds?

I'm not sure how all this stuff works, but it seems that Vanguard and your employer offer select options to the employees to choose. In the case of my (old employers) Vanguard options, they are quite limited. Maybe this is what some here are driving at? You are stuck with the options that your employer selected.
 
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