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by xyzelement
962 days ago
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I get that what you're describing would be "better" but sounds like a very small deal. How often are you switching jobs that rolling all those 401ks is a real burden? The reality behind it is that 401k administration is a heavy and expensive process and the reason it's all pooled together at one provider is that. Obviously once you're done, you can take it anywhere into an IRA. |
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It's not just the rollovers when you switch jobs. It's also being locked into whatever funds (and fees) the plan your company selected offers. Especially given you can go standup a full 401k for yourself if you are self employed for free (at Fidelity amongst other places).