I am resigning from my job in the next couple of weeks. I am fully vested on my 401k, I have about 20k. My breakdown right now is as follows: I have it through ICMA-RC 58% bond funds & 42% stock funds, the stock funds are way down & I have VT Pimco Total Return which is doing well & VT Pimco High Yield which is down both under bonds. What should I do, I don't understand much of this so all your suggestions are welcome. I was reading under another post that you should transfer it to an IRA, I have an IRA through Ameriprise but it's on the floor & I am not very pleased with my advisor.

Thanks.

I can not speak on your individual portfolio choices BUT I would NOT SELL in a down market, change your FUTURE allocations to funds/stocks you now prefer after you rollover into a IRA for safe keeping.

I say definitely roll it over into a traditional IRA, but you can of course open a new IRA elsewhere if you don't want to put it into the Ameriprise account. You can open as many IRAs as you want. You could go with a mutual fund account at a firm like Vanguard or T. Rowe Price or Fidelity, or just use a discount brokerage like Schwab or Scottrade and buy mutual funds through that account. Go to any of their websites and you can find info about how to open an IRA and rollover 401k money into it after you've left your job.

You can try to do a transfer of the mutual fund shares themselves into the new IRA, but I'd advise that it's easier and quicker to sell everything in the 401k first, and just directly transfer the cash into the IRA -- fewer complications. And then re-invest from there.