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That's what I thought. My current strategy is to keep an eye on the total size of our account, hoping it gets big enough to add some better options, or big eno
by joe_bleau 13y ago
That's what I thought. My current strategy is to keep an eye on the total size of our account, hoping it gets big enough to add some better options, or big enough to be worth moving to a cheaper provider.
I wonder what it would take to add a brokerage window (self-directed) option?
- cdjk 13y agoAll you can really do is pressure the company into picking a better 401k provider (Vanguard is a good bet). A self-directed option in a 401k isn't really possible as far as I'm aware, since you're limited to mutual funds. They don't want people "gambling" with their 401k money by betting on individual stocks. Still, given the tax advantages, you're likely to come out ahead in the long run in a 401k compared to a taxable brokerage account. Just pick the funds with the lowest fees.
- djb_hackernews 13y agoSelf directed options in 401ks are definitely available and if your 401k plan doesn't offer it you should be raising a stink with hr. I'm coming to the conclusion that if your plan doesn't offer it then your company either got screwed by the salesman or are incompetent.
- orofino 13y agoSome 401k programs do allow for "in-service" rollovers which would allow you to move the funds to an IRA before you leave your job. Those that allow this aren't all that common, but it is worth checking into.