Evan M. Levine, ChFC's Answers and Guides
Level 20 Contributor
111 Answers and 23 Guides
What a timely question! I completely agree with David. It's also worth noting that By November 14th of this year, 401(k) plan sponsors/ providers will issue the very first " disclosure of fees " statement which hopefully will contain the information you
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What a timely question! I completely agree with David. It's also worth noting that By November 14th of this year, 401(k) plan sponsors/ providers will issue the very first " disclosure of fees " statement which hopefully will contain the information you seek. Good luck, Evan
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Why do you want to cash it in? What is the intended use for these funds?
A risk profile (401-k or other) is a questionnaire that attempts to measure how much ups and downs an individual is comfortable with in their investments. In other words, how hard someone can bang your hand with a hammer, before you say " uncle" . I have
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A risk profile (401-k or other) is a questionnaire that attempts to measure how much ups and downs an individual is comfortable with in their investments. In other words, how hard someone can bang your hand with a hammer, before you say " uncle" . I have not seen many that do that effectively or accurately. As a professional advisor, I usually get decent sense for an investors " risk tolerance" simply by spending time with- and getting to know them. And then observing how they react / behave after they are invested. If anyone has come across a questionnaire they feel can measure risk profile effectively, please be kind enough to share it with me at evan@completeadvisors.com Thanks!
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Agree with both Russ and Julian. One more point; some like the idea of having multiple accounts for different goals; i.e.. House account, Retirement, Education, Trip around the world.. etc.. You can have a Brick and Mortar Bank account for checking and
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Agree with both Russ and Julian. One more point; some like the idea of having multiple accounts for different goals; i.e.. House account, Retirement, Education, Trip around the world.. etc.. You can have a Brick and Mortar Bank account for checking and savings as the core.. then set up multiple on- line accounts ( I use Schwab Bank) and have as many accounts as you want and not worry about fees or minimums. They even let you "Name" each account which you see on your summary screen.. House .. Retirement etc.. this way you know which monies are for each objective and you can then invest appropriately. This is particularly useful approach for a freelancer or self employed. Good luck
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Are you looking to invest directly and maintain the strategy alone or would you prefer to partner with an advisor going forward?
All the answers are great but beware of losing the forrest for the trees. The important issue is investing enough and in the right strategy to have enough to meet your goals. Just make sure that you dont let the registration decision hold up implementation
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All the answers are great but beware of losing the forrest for the trees. The important issue is investing enough and in the right strategy to have enough to meet your goals. Just make sure that you dont let the registration decision hold up implementation of your plan and regular investing.
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Gold is not an investment, it's pure speculation. Would you prefer to invest your IRA or speculate with it?
While all of this is good advice, lets not lose the Forrest for the trees. What's most important is your savings rate and asset allocation. Next to those decisions the Roth/IRA decision is insignificant. A young professional saving 14% of income using
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While all of this is good advice, lets not lose the Forrest for the trees. What's most important is your savings rate and asset allocation. Next to those decisions the Roth/IRA decision is insignificant. A young professional saving 14% of income using an 80% equity portfolio will - 30, 40 years from now - run circles around one that defers 4% in a 40% equity portfolio- weather its pre-tax, post tax or anything in between. Get the deferral amount and allocation right, stay disciplined- and it will all work out just fine.
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Unlikely you are allowed " in service withdrawls" if you are still employed by this Company. If you are not, you can roll the funds into your own IRA and withdraw funds - subject to ordinary income tax. Best of Luck!
Possibly from an independant RIA fiduciary. Best of luck!
