Years ago, when we were flipping foreclosures, I opened a Roth 401(k) for myself. I contributed to it for only one, maybe two, years. Ever since, I’ve gotten a quarterly statement and paid $25 to the administrating company. That’s $100/year for roughly ten years. And it drives me crazy every time that fee comes out of my bank account.
On Monday I emailed our advisor at Wells Fargo to see if he had any idea what I could do with it. If I liquidated it, I’d have to pay some kind of penalty. Maybe I could roll it into something? He got right back to me. I could roll it into a Roth IRA and, because we have over a certain threshold of investments with them, there’d be no administrative fees. 🙂
I’m kicking myself for not putting this on my To Do list earlier. But, better late than never!