Mark Charles Schreiber

Ross First, I think your HR person/dept need to know that there are other 401k providers that provide a nice gauranteeed account without hefty fees. As a matter of Fiduciary reponsibilty they need to benchmark their 401k plan relative to investment options and plan expenses. They should first pull there benchmark report from Brightscope and see how it is rated. You should call the the Advisor on the plan as he/she gets paid to help assist with education and asset allocation advice. Although they normally can' t provide specific fund recommendation's they can assist in developing a startegy for your situation.

Second, you can stop your 401k deferral and contribute to an IRA(limited to $5,000/$6,000 depending on age) - you need to ask your tax person if it will be deductable or not or if it is better to do a Roth IRA. You may want to consider the Roth and 401K(check income limits). If married and you have a 401k available the income limit to dedcut a traditional IRA is $110,000 so most likely a Roth. Next, check with your plan sponsor(employer) wether the plan allows in service distributions while you are still working at the company. Normally it is only allowed after 59 1/2 but some plans just don't allow it.I hope this helps and don't be afraid to ask questions. Mark Schreiber CPA

Dane Sorry to hear about your marriage. If you have children determine if you can file your taxes as Head of Household. Next, be sure to change the beneficiary on your 401K and any life insurance policies and IRA's. You still have 20 plus years of earning potential so don't stress too much. It is a time to reestablish your budget and determine a good deferral percentage and depending on your earnings level a Roth IRA may be possible. Make sure you rebuild your emergency cash reserves. Mark Schreiber CPA

Adlai - you are self emoployed so making a IRA contribution will not reduce your self employment tax which is calcualted on your net self employment income, however by contributing to a traditional IRA or a SEP(higher contribution limit and flexibility) you will reduce your Federal and State Income taxes. I would estimate you will save 30% for every dollar you contribute. The SEP contribution is not due until the tax return is filed including extensions - So if your 2011 retrun is on extesnion you can still make a SEP contribution up to the filing date or October 15th. I recommend making them throughout the year as you are dollar cost averaging into your investments. Good Luck. Mark Schreiber CPA