Mon 16 Feb 2009
Flee 401(k)s Fraught with Frightful Funds and Frivolous Fees
Posted by Charles L. Stanley CFP® ChFC AIF® under 401(k), IRA Rollover, Portfolio Review, Roth IRA, Traditional IRA, retirement
[2] Comments
If your 401(k) investment options suck or if they are just plain too expensive and eat up your retirement returns while feathering the bed of the plan’s broker, move your money where you can control your investment options and fees.
Let’s say you now age 60 and don’t plan to retire from your job for another five years, and your 401(k) plan is very expensive and has less poor investment options. You can roll your $1 million 401(k)(or less – don’t we all wish our 401(k)’s were worth at least $1 million?), into an individual retirement account (IRA), using a little-known maneuver known as an “in-service” non-hardship distribution. (more…)
