401k?

[DreamDelta]

With whom do you have your 401k? I have one thru my job and am curious about the others that are out there. Are you satisfied?

Thanks in advance!

 

[msmayor]

A 401(k) is only held through your employer. As long as you are working there, it must remain in that plan; you can't take it out unless you leave.

Once you leave your employer, if you take that with you it is rolled over into an IRA and no longer called a 401(k).

 

[DreamDelta]

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[DreamDelta]

That's what I thought, but I let my 75-year-old mother convince me otherwise! I'm definitely going to show her this post!

 

[QVCshopper]

She's thinking about a IRA. In which case, I recommend a Roth IRA at an institution like Vanguard. Low cost funds, many choices. But your 401k is through your company, and they use a financial institution (like Vanguard, Fidelity, etc.) to manage it.

 

[SuzanneSLO]

If you are with a small company or are otherwise in a position to influence the choice of provide for your 401(k), it is worthwhile looking at both your investment options and the costs and fees associated with them. Many small companies gravitate to the providers who tend to have the highest fees because they provide more hand-holding for the administrators and are cheapest for the company. But becuase there is no such thing as a free lunch, the result is that more $$ come out of the employees investments. This is one of the reasons that it is generally a good idea to move your 401k to an IRA after you leave a company. -- Suzanne