Comments on: 401k Mistake http://journey2retirement.com/blog/2007/08/26/401k-mistake/ Sat, 22 Nov 2008 13:25:23 +0000 http://wordpress.org/?v=2.6.1 By: Abdul Sumar http://journey2retirement.com/blog/2007/08/26/401k-mistake/#comment-113 Abdul Sumar Sun, 02 Mar 2008 03:20:31 +0000 http://journey2retirement.com/blog/2007/08/26/401k-mistake/#comment-113 If you are leaving your existing job, that would be a great time to rollover your traditional 401k plan into an IRA. This option is even better than rolling over to your new employer's 401k plan. Why? Because your investment options are unlimited. In a 401k plan, your investment is limited to the mutual funds & stocks that your employer invests in. However when you rollover into your own IRA, you can invest in stocks, bonds, commodities & other higher yielding assets. I like your tips on how to find a good mutual fund manager. But a mutual fund that has made consistent good returns could also fail because the manager has made himself a lot of money and slacks off, I saw this documentary on CNBC where some mutual fund managers bought themselves Ferraris, big mansions and their funds started to lose money because they slacked off. All in all, you are better off managing your own money than giving it to a Class C fund like you said. I would invest in commodities right now, gold, oil, soybean futures contracts, etc. You can read about my investment theories for retirement @ www.401klookup.com If you are leaving your existing job, that would be a great time to rollover your traditional 401k plan into an IRA. This option is even better than rolling over to your new employer’s 401k plan. Why? Because your investment options are unlimited.

In a 401k plan, your investment is limited to the mutual funds & stocks that your employer invests in. However when you rollover into your own IRA, you can invest in stocks, bonds, commodities & other higher yielding assets.

I like your tips on how to find a good mutual fund manager. But a mutual fund that has made consistent good returns could also fail because the manager has made himself a lot of money and slacks off, I saw this documentary on CNBC where some mutual fund managers bought themselves Ferraris, big mansions and their funds started to lose money because they slacked off. All in all, you are better off managing your own money than giving it to a Class C fund like you said.

I would invest in commodities right now, gold, oil, soybean futures contracts, etc. You can read about my investment theories for retirement @ http://www.401klookup.com

]]> By: B. Green http://journey2retirement.com/blog/2007/08/26/401k-mistake/#comment-112 B. Green Thu, 20 Dec 2007 19:48:53 +0000 http://journey2retirement.com/blog/2007/08/26/401k-mistake/#comment-112 Iys amazing how many people make mistakes when it comes to there 401k. I never really thought that rolling my money over from one 401k to another would cost me money. But you are right... it certainly matters. Thanks for the info. Iys amazing how many people make mistakes when it comes to there 401k. I never really thought that rolling my money over from one 401k to another would cost me money. But you are right… it certainly matters.

Thanks for the info.

]]> By: Mapgirl’s Fiscal Challenge / Not Every 401k Plan is Created Equal http://journey2retirement.com/blog/2007/08/26/401k-mistake/#comment-111 Mapgirl’s Fiscal Challenge / Not Every 401k Plan is Created Equal Wed, 29 Aug 2007 13:06:05 +0000 http://journey2retirement.com/blog/2007/08/26/401k-mistake/#comment-111 [...] Journey2Retirement has a very personal cautionary tale about rolling over a 401K plan into your new employer’s plan. I thought this was a very important article about doing your due diligence before going to a new company. My additional tip is that you usually have 90 days to take a rollover withdrawl from your old company’s 401k plan. Use the first 90 days at your new job to find out all you can because you may be better off staying in your old plan, or converting to a traditional IRA instead. (This assumes you aren’t anywhere near retirement age.) [...] [...] Journey2Retirement has a very personal cautionary tale about rolling over a 401K plan into your new employer’s plan. I thought this was a very important article about doing your due diligence before going to a new company. My additional tip is that you usually have 90 days to take a rollover withdrawl from your old company’s 401k plan. Use the first 90 days at your new job to find out all you can because you may be better off staying in your old plan, or converting to a traditional IRA instead. (This assumes you aren’t anywhere near retirement age.) [...]

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