It often makes sense for job switchers and retirees to roll over their 401(k) to a traditional or Roth IRA (see Pros and Cons of Rolling Your 401(k) Into an IRA). A handful of discount brokerages, including five of our top-ranked online brokers, compete for your retirement dollars that you’ve saved with another company by offering cash incentives that range from $100 to $2,500, depending on how much you invest. Consider:
Guide to Scoring the Best Deals in 2017
- Costco vs. Sam's Club
- Best Tools to Save on Online Shopping
- Surprising Perks From Your Credit Card
- Best Time to Buy Big-Ticket Items
- Invest for Less With Commission-Free ETFs
- Trim Your Mortgage Rate With a 'Nonbank'
- Update Your Bathroom for Less
- Top Tech Bargains of 2017
- Save Big on Exotic Travel
- Save on Air Travel
E*Trade. Open a new IRA with $25,000 rolled over from an employer retirement account, and E*Trade will kick in a $200 bonus. For a rollover of $1 million or more, you’ll get $2,500.
Fidelity. Score a $100 bonus when you fund a new IRA with at least $25,000. Or roll over at least $50,000 from a 401(k) or IRA and Fidelity will award you a $200 bonus. You’ll earn a bonus of $2,500 if you roll over $1 million or more.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Merrill Edge. A rollover IRA funded with as a little as $20,000 will earn you a $100 bonus. For accounts funded with $200,000 or more, Merrill offers a $600 bonus.
Scottrade. Funding a new IRA with $25,000 from your old 401(k) will earn you a $100 bonus. You’ll earn a $2,500 bonus if you roll over $1 million or more to a new IRA.
TD Ameritrade. Roll over $25,000 or more to a new TD Ameritrade IRA and you’ll receive a $100 bonus. Rollovers of $1 million or more earn a $2,500 bonus.
Charles Schwab and Vanguard do not offer rollover incentives or bonuses.
Don’t let a signing bonus sway you completely. Low commissions to trade stocks or exchange-traded funds or low fees on your investments can save you money in the long run. And finding a firm that suits your needs is far more valuable than a bonus. To see how leading online brokers stack up, see our guide to the Best Online Brokers.
-
How Much Does Amazon Prime Cost for a Membership 2022?Amazon Prime With the price of Amazon Prime rising 17% in 2022, the question remains: Is it worth it? We’ll run you through what you get (and ways you might pay less).
-
Keep Your Savings Safe
savings If your wealth exceeds FDIC limits, it may be time to open multiple accounts. But make sure your money is earning something, too.
-
How to Appeal an Unexpected Medical Bill
health insurance You may receive a bill because your insurance company denied a claim—but that doesn’t mean you have to pay it.
-
Amazon Prime Fees Are Rising. Here’s How to Cancel Your Amazon Prime Membership
Amazon Prime Amazon Prime will soon cost $139 a year, $180 for those who pay monthly. If you’re a subscriber, maybe it’s time to rethink your relationship. Here’s a step-by-step guide to canceling Prime.
-
How to Haggle for Almost Anything
Smart Buying These strategies will help you negotiate a better price for just about any product or service.
-
Disability Insurance Can Provide COVID Coverage
Coronavirus and Your Money If you are concerned about long-term complications from COVID-19, consider disability insurance coverage.
-
19 Things You Can't Return to Amazon
Amazon Prime Before tossing these items into your virtual shopping cart, be sure to read Amazon's return policy first.
-
How to Avoid a Charity Scam
personal finance Scammers never quit, even when you're trying to be altruistic. But you can avoid getting duped if you do your homework.
