Best way to convert a current 401k account to a new 401k plan

Options
NewMac2017
NewMac2017 Member ✭✭
in Investing (Mac)
My wife's 401k plan is switching to another company. How is the best way to handle this in Quicken for Mac 2017?

1. The only options I see is to transfer the dollars from the old 401k investment company over to the new investment company and close the old account or hide.

2. Hide the old 401k account and create a new investment account with the new company and let everything download, then hide the old 401k plan.

Please let me know your thoughts and suggestions.

Thank you.
Tagged:

Best Answer

  • NewMac2017
    NewMac2017 Member ✭✭
    Answer ✓
    Options
    The current securities will be sold by the first 401k company and the money will be moved to the new 401k company. I would like to keep the history of the old 401k company.

    I believe I have answered my own question.

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Options
    Or, if all the holdings are transferring over intact (same securities), you might consider just renaming the account in Quicken, disconnecting from the current brokerage, and re-connecting to the new company. It depends if you need to keep a record of what took place at the old company separate from the new one, of if a single continuous record of your holding meets your needs.
    Quicken Mac Subscription • Quicken user since 1993
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Options
    As jacobs indicated, the answer to your question depends entirely upon what will happen (or happened) in the real world.
    If you can describe that, we can assist with the Quicken aspect of recording it.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • NewMac2017
    NewMac2017 Member ✭✭
    Answer ✓
    Options
    The current securities will be sold by the first 401k company and the money will be moved to the new 401k company. I would like to keep the history of the old 401k company.

    I believe I have answered my own question.
This discussion has been closed.

Categories