Solo 401k

[redneck joe]

Anyone got one? For various reasons I want to move it from my previous employer to my self employed self.

I've confirmed the company I want to use accepts rollover but that is about the only pitfall I can see other ensuring it is a direct between the companies.

Anyone have insight?

 

[airshot]

I have a financial advisor that takes care of things like that, I rolled my part time job and my full time job, all into my own account. Use experts when ever you can !

 

[dingbat]

The biggest thing people miss when selecting managers or investments are the management and investment fees.

Providers are not very forth coming on their management fees. I had to ask specifically about their fee structures for the subject to even come up.

While the fees seem rather small on paper, typically 1.0 to 1.50%, a 1/4 to 1/2% difference can add up to thousands over time.

 

[redneck joe]

yeah the fees for schwab are zero for most things, some one off small $ fees for certain things.

 

[redneck joe]

I have a financial advisor that takes care of things like that, I rolled my part time job and my full time job, all into my own account. Use experts when ever you can !

I do well with our stuff, we are very diversified and i'm mostly 'set and forget' kinda guy except for some small small play accounts which i still do fairly well..

I've recently begun to educate myself on how to actually use our money once we need it to live on. Accumulation and investing are fairly straight forward imo but with medicaid based on income, tax levels, she will prob be working when i start drawing in a couple years, how social security works for her when i'm dead, etc - i will be fining a person to guide me thru that.

 

[dingbat]

yeah the fees for schwab are zero for most things, some one off small $ fees for certain things.

I assume you’re looking at an unmanaged account.

Had four separate managed 401K accounts but hired a fiduciary three years ago in prep for retirement.

In hindsight, I should have consolidated and hired an asset manager a lot earlier. The returns are beating the heck out of the leave and forget strategy I practiced for so long.

 

[redneck joe]

yes, unmanaged.

did you use a local fiduciary or a big one, if big, who?

 

[airshot]

I have had my financial guy for over 40 years, a Jewish fellow that really understands finnances, my money is in the same investments his money is in ! If I loose, so does he, and we all know they don't loose.

 

[alldodge]

Just rolled mine from Government Thrift to Vanguard
Have steadily added to IRA in mostly S&P 500. Moved it because Thrift will not pay a Charity directly (Qualified Charitable Distribution). Since they won't do this I moved funds to Vanguards VOO

 

[dingbat]

yes, unmanaged.

did you use a local fiduciary or a big one, if big, who?

Our primary is handled by a local guy. Came highly recommended by good friends of ours

Also have SIMPLE 401K through John Hancock with my current employer and 401K with a past employer at Fidelity investment Services.

 

[FLATHEAD]

Take a look at “Ally”

 

[redneck joe]

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