Control of 401K

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  • Wed, Feb 18, 2009 - 01:07am

    #1

    JAudette

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    Control of 401K

After listening to the entire crash course, I’ve decided to take better control of my 401K but I don’t know where to start.  Does anyone have information on self managed 401K’s and how to start one?

 

 

  • Wed, Feb 18, 2009 - 02:47am

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Control of 401K

Hi JAudette.

I’m no expert, but I here’s a few links on the topic from past posts to get started.  I imagine there are people here who can post more specific information for you.

https://www.peakprosperity.com/forum/401k-plan-administrators-getting-desperate/9723

https://www.peakprosperity.com/forum/401k-investment-advice/12567

https://www.peakprosperity.com/forum/investing-401k/9085

https://www.peakprosperity.com/blog/financial-recommendations-brief-look-back-2008/10986

  • Wed, Feb 18, 2009 - 02:49am

    #3
    Peak Prosperity Admin

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    Re: Control of 401K

I did the same thing. You have to get your plan provider to put a PCRA into your options for investing. What that is is basically a brokerage trading account where you can buy ETF’s, equities, mutual funds, etc.

 

  • Wed, Feb 18, 2009 - 03:52am

    #4
    Peak Prosperity Admin

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    Re: Control of 401K

I’ve been using Schwab for about 10 years. They have good research on stocks – lots of opinions and always good service.

  • Wed, Feb 18, 2009 - 04:17am

    #5
    Peak Prosperity Admin

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    Re: Control of 401K

Is your 401k with a current employer or a former employer? For the general info all reading this, if it’s with a current employer you’re generally stuck with the options within the plan unless you can convince your employer to make changes. If it’s with a former employer you can roll over to a personal IRA and do many more different things depending who you place your account with.

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