Control of 401K

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JAudette's picture
JAudette
Status: Martenson Brigade Member (Offline)
Joined: Feb 15 2009
Posts: 5
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?

 

 

Brandon's picture
Brandon
Status: Martenson Brigade Member (Offline)
Joined: Oct 6 2008
Posts: 143
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.

http://www.peakprosperity.com/forum/401k-plan-administrators-getting-des...

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

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

http://www.peakprosperity.com/blog/financial-recommendations-brief-look-...

Damon Rose's picture
Damon Rose
Status: Member (Offline)
Joined: Feb 17 2009
Posts: 1
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.

 

watsondog's picture
watsondog
Status: Member (Offline)
Joined: Jan 28 2009
Posts: 20
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.

Woodman's picture
Woodman
Status: Diamond Member (Offline)
Joined: Sep 26 2008
Posts: 1028
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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