Need help deciding what to do with my investment finances, including rolling over my prior Co. 401k rollover. I hold 2 401ks, 1 Roth IRA and I'm planning maybe on an index Fund. Details inside!
So here's the deal:
-Fidelity 401k (Old Co.): $75k+
-Fidelity 401k (New Co.): Just starting no funds yet
-Vanguard Target Retirement FID Freedom 2045
: $4700 approx 90% stocks, 10% bonds
The prior company 401k has sat for about 2 years, because I wasn't ready to deal with any rollover etc and it was earning fine for now.
Recently my NEW company changed their 401k plan, so I've enrolled in that last January to get the full match and a little bit more (They match 50% of the first 6%, deferred after a year, which is really 100% of 3% if I'm understanding right.) I'm contributing **5%** to it currently. I currently earn 90k before taxes a year, and am hoping to have my raise/bonus info by end of 1st quarter 3/31. My ONLY debts currently are **$600** on a credit card *which I plan to pay off by end of month*, and my consolidated 2 college loans, which equal **$5,168.62** as of today. The loan is only %2.63 and I pay off about $150 a month automatically above the minimum $92 payment.
1. How/what should I roll over the old 401k to? Or should I? I know that having it in an IRA I can do without any tax penalties etc, and it will afford me more control over the investment options than if I left it alone. What do you recommend?
2. The IRA I will continue to add the yearly limit of $5,500 of. I just received $2200 in tax return, and was planning on dumping 1-1.5k into that immediately, and the rest to engagement/wedding savings.
3. I would ALSO like to open an Index Fund and fund that slowly, say 1-$200 a month. Any recommendations which are good?
4. Should I rush to pay off the college loan, or since it's such a low percentage make my money work more for me in other investments?
Thanks in advance, I'm trying to really get my finances brushed up a bit with spring cleaning.