So, I’ve got a 401K from an old employer that I worked at for a few years that has probably 14K in it, and I have one with my current employer that only has roughly 7K in it
My question is, should I consider rolling my “larger” one from my old employer into my current one so that I have one larger balance account that can potentially earn compound interest faster (down the road obviously since my balance is pretty small).
The fees from the old 401K seem pretty small (it’s showing expenses of $24 YTD). The ones for my current employer is a target date fund, and the fees look significantly higher (discovered that yesterday, as they were like .67%). I saw an index fund option with much smaller fees that I plan on moving into @ the start of the year once my employer matches my contributions from 2016.
I’m upping my contributions in 2017 regardless, but have been contemplating whether to combine these or not. I’m 33, so still have a long ways to go but hoping that increasing my contributions is a good start.
Any and all opinions are much appreciated!