# My 401K--in the Trump Era--advice? **URL:** \ **Category:** In My Humble Opinion\ **Tags:** trump\ **Created:** [November 12, 2024, 6:18pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160 "2024-11-12T18:18:38Z")\ **Posts on this page:** 20\ **Page:** 4
**Author:** ![We\_re\_wolves\_not\_werewolves](https://avatars.discourse-cdn.com/v4/letter/w/838e76/32.png) [@We\_re\_wolves\_not\_werewolves](https://boards.straightdope.com/u/We_re_wolves_not_werewolves)\ **Post date:** [November 20, 2024, 9:55pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/61 "2024-11-20T21:55:31Z")
with regard to Fidelity, if you are talking about their cash management account (CMA), while it functions similarly to a checking account, it is not really. Fidelity is not a bank, they are a Fintech company, and therefore there is no FDIC insurance directly. You can however, if you chose, direct your investments within the CMA to a third party bank to get FDIC insurance on your invested funds. It’s a little funky and there are a few other nuances to know, but yes, it _functions_ more or less like a checking account. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [November 20, 2024, 10:08pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/62 "2024-11-20T22:08:45Z")
Thanks but FDIC insurance isn’t really a concern and the money I keep at Citibank is only a few percent of the total. But as I said, the big reason I still have the account is to pay bills. (Plus I can go into the branch to use the ATM or get quarters or bills changed.) ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [November 20, 2024, 11:04pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/63 "2024-11-20T23:04:07Z")
My apologies–I was astounded. ---
**Author:** ![LSLGuy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lslguy/32/5813_2.png) [@LSLGuy](https://boards.straightdope.com/u/LSLGuy)\ **Post date:** [November 21, 2024, 1:06am UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/64 "2024-11-21T01:06:42Z")
They still make money on so-called zero-fee funds. The prices at which the bring in or send out the underlying shares in the fund mix when they buy or sell include a slice for them. It’s not egregious in spread, nor in effective expense ratio. But it’s still chicanery IMO and not to be respected. ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [November 21, 2024, 6:54pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/65 "2024-11-21T18:54:37Z")
I will go with Fidelity. ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [December 1, 2024, 3:12am UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/66 "2024-12-01T03:12:41Z")
OK, the Fidelity is set up. But I need to transfer the funds. What reduces the fuss, feathers & worry the most? ---
**Author:** ![Railer13](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/railer13/32/9742_2.png) [@Railer13](https://boards.straightdope.com/u/Railer13)\ **Post date:** [December 1, 2024, 4:07am UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/67 "2024-12-01T04:07:41Z")
> [@Bosda\_Di\_Chi\_of\_Tricor](#): > > What reduces the fuss, feathers & worry the most? Check out this page: > **[401k To Rollover IRA | New account steps | Fidelity](https://www.fidelity.com/retirement-ira/401k-rollover-ira-steps)** > > A rollover IRA can help you keep a consolidated view of your investments during your career. Here are key steps to take when moving an old 401k into a rollover ira. ---
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [December 1, 2024, 12:45pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/68 "2024-12-01T12:45:59Z")
> [@Bosda\_Di\_Chi\_of\_Tricor](#): > > What reduces the fuss, feathers & worry the most? Calling their customer support line. ---
**Author:** ![We\_re\_wolves\_not\_werewolves](https://avatars.discourse-cdn.com/v4/letter/w/838e76/32.png) [@We\_re\_wolves\_not\_werewolves](https://boards.straightdope.com/u/We_re_wolves_not_werewolves)\ **Post date:** [December 1, 2024, 9:49pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/69 "2024-12-01T21:49:38Z")
> [@Munch](#): > > Calling their customer support line. This. The normal process is the 401k provider mails you a check made out to “Fidelity FBO [your name]”. You then forward that to Fidelity and they deposit the funds into your IRA. ---
**Author:** ![Railer13](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/railer13/32/9742_2.png) [@Railer13](https://boards.straightdope.com/u/Railer13)\ **Post date:** [December 1, 2024, 10:06pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/70 "2024-12-01T22:06:32Z")
> [@We\_re\_wolves\_not\_werewolves](#): > > The normal process is the 401k provider mails you a check made out to “Fidelity FBO [your name]” I just moved my 401k to my Fidelity IRA. My 401k provider sent me a form that requested wire transfer information, as well as my account number and other stuff. I forwarded the form to my Fidelity rep, and he provided me with the necessary info. The process from my initial phone call to my 401k provider to when my money appeared in my Fidelity account took about 10 days. ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [December 1, 2024, 10:17pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/71 "2024-12-01T22:17:59Z")
This was very helpful. Time-frames. ---
**Author:** ![bobsmom101](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bobsmom101/32/2867_2.png) [@bobsmom101](https://boards.straightdope.com/u/bobsmom101)\ **Post date:** [December 2, 2024, 3:46am UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/72 "2024-12-02T03:46:27Z")
My former employer’s 403(b) plan was set up with Fidelity, and I’ve kept them. Like their other customers in this thread, I have found them to be excellent. Up until a couple of months ago, I was a pretty aggressive investor, about 80% stock index funds and 20% bonds/money market. I started to pull money out of the stock funds when my account summary showed y.t.d. gains over _30%_. So being aggressive paid off, but no way is that rate of return sustainable. The second trigger was the election. I’m pretty sure the hamfisted meddling T\*\*\*\* proposes will crash the economy, I’m just not exactly sure how, and what, if any safe havens are available. I’ve reduced my stock exposure to about 50%, with the rest in TIPS and short term bonds. I just don’t know, y’all. Are bonds really more disaster-proof than stocks? Should I be hoarding silver? Even Bitcoin isn’t off the table, and Fidelity temptingly lists crypto ETFs. Though I can’t invest in crypto within my retirement account, I am considering parking next year’s RMD in Bitcoin. Are any of you considering gold, silver or crypto for doomsday? ---
**Author:** ![We\_re\_wolves\_not\_werewolves](https://avatars.discourse-cdn.com/v4/letter/w/838e76/32.png) [@We\_re\_wolves\_not\_werewolves](https://boards.straightdope.com/u/We_re_wolves_not_werewolves)\ **Post date:** [December 2, 2024, 4:16am UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/73 "2024-12-02T04:16:18Z")
> [@Railer13](#): > > I just moved my 401k to my Fidelity IRA. My 401k provider sent me a form that requested wire transfer information, as well as my account number and other stuff. I forwarded the form to my Fidelity rep, and he provided me with the necessary info. The process from my initial phone call to my 401k provider to when my money appeared in my Fidelity account took about 10 days. That is great. A direct transfer via wire is the best and quickest process. Some 401k providers (including mine when I did it) wouldn’t do that, and instead issued a check as I described above. It’s still considered a direct rollover for tax purposes, but it’s a little slower and requires the mailing of checks for large amounts of money, which makes me nervous. Again, calls to his 401k provider and Fidelity will inform the OP how the process will need to work for him. ---
**Author:** ![We\_re\_wolves\_not\_werewolves](https://avatars.discourse-cdn.com/v4/letter/w/838e76/32.png) [@We\_re\_wolves\_not\_werewolves](https://boards.straightdope.com/u/We_re_wolves_not_werewolves)\ **Post date:** [December 2, 2024, 4:20am UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/74 "2024-12-02T04:20:39Z")
> [@bobsmom101](#): > > Are any of you considering gold, silver or crypto for doomsday? a small amount of precious metals (maybe 10%) is not going to kill you and is not the worst idea. There is no doubt crypto has done well, but it is essentially a ponzi scheme and is likely the first thing to tank if the shit hits the fan. I think your 50% stocks, 50% TIPS/short term nominal bonds is a fine all-weather portfolio and should serve you well. ---
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [December 2, 2024, 3:05pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/75 "2024-12-02T15:05:29Z")
> [@bobsmom101](#): > > My former employer’s 403(b) plan was set up with Fidelity, and I’ve kept them. Unless you have something like a parsonage exemption in a 403(b)(9), I hope you’ve at least transferred that to an IRA - there are usually (but not always) extra fees applied to employer plans on any platform, including Fidelity. > [@bobsmom101](#): > > I’m just not exactly sure how, and what, if any safe havens are available. TIPS are good, as is Fidelity’s money market account (SPAXX), which is currently earning 4.26%. ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [December 2, 2024, 4:37pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/76 "2024-12-02T16:37:23Z")
Transfer underway. ---
**Author:** ![bobsmom101](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bobsmom101/32/2867_2.png) [@bobsmom101](https://boards.straightdope.com/u/bobsmom101)\ **Post date:** [December 2, 2024, 4:46pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/77 "2024-12-02T16:46:06Z")
> [@Munch](#): > > Unless you have something like a parsonage exemption in a 403(b)(9), I hope you’ve at least transferred that to an IRA - there are usually (but not always) extra fees applied to employer plans on any platform, including Fidelity. They’ve negotiated very favorable fees with Fidelity, so I don’t see the advantage in transferring to an IRA. The index funds’ fees are 0.01% annually. The two non-index funds I own are 0.35% and 0.48% annually. Of course, the fee structure will vary with the employer’s plan and the funds allowed within it. ---
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [December 2, 2024, 4:56pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/78 "2024-12-02T16:56:18Z")
> [@bobsmom101](#): > > They’ve negotiated very favorable fees with Fidelity, so I don’t see the advantage in transferring to an IRA. What’s the advantage of paying fees (however reduced they are) when the alternative is staying on the same platform, paying zero fees, and having a larger selection of options? ---
**Author:** ![bobsmom101](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bobsmom101/32/2867_2.png) [@bobsmom101](https://boards.straightdope.com/u/bobsmom101)\ **Post date:** [December 2, 2024, 5:06pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/79 "2024-12-02T17:06:10Z")
> [@Munch](#): > > paying zero fees, I don’t understand. How are you paying zero fees in an IRA? I have a small IRA with two positions in my account as well. The Fidelity stock index fund has a 0.015% annual fee and the non-index bond fund has a 0.44% annual fee. Not much different from the 403(b) plan fees, but not zero either. ---
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [December 2, 2024, 5:20pm UTC](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160/80 "2024-12-02T17:20:52Z")
> [@bobsmom101](#): > > How are you paying zero fees in an IRA? The Fidelity platform has zero fees for individually owned accounts. 401k/403b/etc. employer-sponsored plan will nearly always have account fees associated with them. Funds in an IRA will of course be subject to any expense ratios associated with those particular investments. [Previous page](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160.md?page=3) [Next page](https://boards.straightdope.com/t/my-401k-in-the-trump-era-advice/1010160.md?page=5)