[USER]

I’m a pretty new US citizen, been here 5 yrs, and not very savvy with the American investment landscape. I’m 43, net worth about 1m, half in the UK from before I moved here and half in the US from past 5yrs.

I have an ex-employer vanguard account, now empty, which I rolled over into a different ex-employer Fidelity 401k and Roth, I don’t work for either of the employers I mentioned any more and didn’t do anything with the 401k accounts as I don’t know what to do.

I have a Charles Schwab portfolio that is managed by an IFA but I emptied it a while ago as I didn’t want to continue paying the fees as it wasn’t making any money, I think if I put money in that account it becomes managed by the iFA and I start paying fees on it again.

My money is mainly in individual espp/rsu stocks in Etrade, my fidelity 401k/roth and hysas.

Recently I sold a bunch of employer RSUs/ESPP and the funds are in my Etrade account. I am hoping for some advice about what I do now?

I plan to diversify it, but I don’t know ‘where’ to do that. What do I do with the employer 401ks when I finish working for a company?

I assume I can’t put money in them as it’s not from a paycheck? Is Etrade a good place to buy and sell from?

Aside from sounding like an idiot in this post my finances are in good order, I earn well and am figuring out that i learnt everything I know from financial feminist podcast and the book Rich AF also read the other obvious ones, sptw etc.

I’m married but he is military and has no idea how civilian investments etc work so I’ve been learning as I go.

We earn high and spend low. Any advice or resources to learn these things appreciated.

[Abdul]

If you haven’t read Simple Path to Wealth, it is a great book about Personal Finance, I also like Fidelity over Schwab primarily because of fractional EFTs possible in Fidelity.

[Lori]

Open an IRA and roll over your 401K into it. A 401K is set up by the employer and includes a limited amount of funds and fees that the employer agreed to.

An IRA is under your control, so you can choose what mutual funds to invest in and pick ones with low fees.

Open the IRA and follow what their procedure is to roll over your money.

It is easy and will take a few days to go through.

Most people recommend using either Fidelity or Vanguard for their low fees, fund offerings and solid reputations.

[Bryan]

I do all my self directed investing through Schwab and like it! You could probably call Schwab directly and see if everything can be moved to just self directed accounts.

You may have to create new accounts and move them from the advisor to the new self directed accounts to save fees.

Schwab customer service is excellent for these types of questions in my experience with them.

[Author]

Posts