4 ms·
I seriously hate 401k-s. I’ve got about 20 options to choose from and all of them tank if the market tanks. (This is what’s available through my employers plan)
by ianai 8y ago
I seriously hate 401k-s. I’ve got about 20 options to choose from and all of them tank if the market tanks. (This is what’s available through my employers plan) I should be able to specify that for the next 12-months I want everything going into precious metals, if I want. I think having to wait until retirement age for tax purposes is ridiculous as well. The street clearly benefits more from it than I do.
- koolba 8y agoWhen you change jobs you can roll it over to a self directed IRA and do just about anything that doesn’t require margin.
- jedberg 8y agoYou can open a personal 401k at a brokerage and then roll over the money in your employers plan to said account. Then you can invest in whatever you want (including ETFs that track precious metals if you want). Then you get the benefit of your employer's match, if they have one, plus making your own investments.
- ianai 8y agoI did not know this! Thank you. It looks like I can do that yearly as well.
- ilikehurdles 8y agoI have never heard of being able to do a personal 401k despite looking for something like this a lot with my previous job. Is it a proper 401k — are there tax advantages benefits to it? Do I have to be self employed?
- pinot 8y agovanguard.com Open a 401k, rollover your existing 401ks to it, select whatever funds you want.
- ilikehurdles 8y agohttps://investor.vanguard.com/small-business-retirement-plans/individual-solo-401k https://investor.vanguard.com/small-business-retirement-plan... It is limited to business owners.
- jedberg 8y agohttps://us.etrade.com/what-we-offer/our-accounts/traditional-ira https://us.etrade.com/what-we-offer/our-accounts/traditional... It's not technically a 401k, but has the same tax advantages. Just be aware that there are limits to your total tax advantaged contributions, so if you're maxing out your work 401k, you'll only be able to add funds via roll over.
- RickJWagner 8y agoLearn Asset Allocation. (That's the way to make an appropriate risk-level for your own situation.) You will need market returns. You will also desire some measure of safety. AA gives you those.