Been a while since I posted here… so long that I had to create a new account.
Here’s the deal - I’ve got an IRA that’s a little more than a half a mil, it’s been stalled out for a few years. It’s a balanced portfolio. It’s at Fidelity and I’ve always managed it myself. Im still working; plan to stay put. At 70, my SS will be 4200 / month. House and cars paid for and no debt.
What should I do with that IRA? Let it be managed? I haven’t put anything into it in 4 years. It would have only been a tax break as I see it.
I have a 401k with Voya and was thinking of moving the IRA to them and let them manage it. The 401k is around 60k.
I have no experience with Voya except for the initial 401k setup 4 years ago. They were eager to take over my previous 401k/rollover IRA from Fidelity. It kept that at Fidelity.
As a comparison, my mostly Wellington-invested stuff at Vanguard has lost 10% since reaching it’s highest point in Dec. 2021. If yours has held it’s own, I’d say you’re doing pretty good.
I’m trying to recall the thoughts of a famous chess master. He suggested that the best thing to do when you’ve run out of good ideas for your next move, just make a few stalling moves, you’re opponent will probably come up with a new idea, and it will likely be a bad one.
If I were you I would keep the IRA at Fidelity. My understading is that Voya’s offering includes annuity and insurance products. I would be cautious about any annuities that Voya may suggest for your 401K as you approach retirement
