I get to keep my 401(k) account!
January 3, 2018 3:56pm CST
I officially left my job a bit more than two weeks ago now, so I've been half expecting to get a check in the mail from the 401(k) plan administrator. While it would be nice to have, I wasn't really looking forward to it because of the tax implications and having to deal with figuring out where to roll it over to. I was honestly leaning towards calling the administrator to see if they'd let me just roll my balance over into my husband's account so I wouldn't have to worry about it. Anyway, I finally got a nice thick envelope from them in the mail today. It was just a generic form letter, but the gist of it is that I can keep my account with them open because my balance is above their $1,000 minimum. All that worry about a lump sum disbursement for nothing... and a quick glance at the FAQ on their page shows I could have avoided it all if I'd bothered registering on the site before today and done my research. I will be getting a little bit back from my employee stock account, though, since I had some contributions that haven't been used to purchase shares yet. I had a fleeting thought about putting that into Bitcoin, but I think the riskiest move I'll make with that is going to be buying a few more shares of my previous employer's stock through Stockpile.
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• United States
Thanks! As tempting as the Bitcoin thing may be, I can't justify taking that kind of risk. It's pretty much 50/50 IMO... on one hand, I could make a decent profit. I've already gotten pretty good returns for my "effort" with Bitcoin faucets... buuuuut on the other hand the whole thing could go kaput and Bitcoins could be as worthless as Sears stock is today. Nope, not for me.