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401k company plan, should I join?

bell

New Member
Greetings,
My main question is, should I invest in my company's plan? I'm quasi about tying up some of my income for low returns when for example I can put that portion to better use in real estate investment or better stocks.

I also am planning on a career change in the next month, what if my new job doesn't have a plan, where do I put the $ in my current 401k?

What if I decide to go in business for my self, what happens to the current 401K?

Thanks for all your help!
 

Bunny_roses

what? no pink?
does your company match what you put in? 401k is a really good thing to invest in. If your company will match it, then put in the max that you can. When you change jobs or for whatever reason leave a job you have the option to take the money in the 401k out in cash ( you lose some of it that way) or! you can simply roll it over into another one. the best thing to do is call a financial advisor at the time you need to roll it over and just ask for advice. They should be able to at least give you an idea of what to do.
 

Mirage

Secret Agent
Staff member
V.I.P.
I agree, if they will match your money dollar for dollar then it's a great deal for you. I wouldn't recommend putting it ALL in that 401k though mainly because of what happened at Enron.

If for some reason (God forbid) this company were to go under (as Enron did), you could lose everything in your 401k (as Enron employees did). You should never put all of your eggs in one basket. A good second option is to put some money into a good mutual fund too, or some well researched stocks. You should definitely run all your investment and retirement questions past an "official" financial advisor as well though. :)
 

katharina

Registered Member
the best thing to do is call a financial advisor at the time you need to roll it over and just ask for advice. They should be able to at least give you an idea of what to do.
This is very good advice about the advisor. Before you talk to one, though, do some basic research on your own so that you at least know what it is they will advise and whether or not it sounds right for you.
 

mamab

Registered Member
Sounds like free money, to me, if you invest and the employer matches. ;)

My dh left the company he had worked for and when he left, the financial company transferred everything to a money market account. From what I've been able to gather, rolling a 401K isn't that difficult. And, at that point, you get to decide how you want it dispersed.
 

Mr_Snipes

Registered Member
It is free money when the employer matches. And it can add up very fast. I would like to get one, but haven't been with any companies that did them.
 

Melos

Registered Member
I definatley think you should do it. I'm self-employed and intend to stay that way. I'll never get any of that lovely employee matching funds from my employer.
 

Penguin

Registered Member
Self-employed here, too. There are fund options for us self-employed people, but as you noted, there won't be any matching funds added for us!
 
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