I have a 401(k) with about $70,000 in assets, currently held at John Hancock. I’m now fully vested, including the company match, and I’m interested in managing these funds on my own.
I’ve invested my own money before in stocks and crypto, so I’m not new to investing—but I’m unclear about the process of moving my 401(k) into something like a Roth IRA or another self-directed investment account.
My main questions are:
1. Can I move the funds out of John Hancock while I’m still employed at the company, or do I need to wait until I leave?
2. If I can move it, what are my options—traditional IRA, Roth IRA, brokerage account, etc.—and what are the tax implications?
3. Has anyone here gone through this process and can share what platform they used and any tips?
I appreciate any guidance from folks who’ve done this or know the steps. Thanks in advance!
