Comments on: How to Deal With a 401(k) Plan That Sucks http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/ Moving beyond the basics Fri, 29 Aug 2008 07:55:21 +0000 http://wordpress.org/?v=2.2.2 By: Carnival, Festival, Carnival, Ahoy! | I've Paid For This Twice Already... http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2565 Carnival, Festival, Carnival, Ahoy! | I've Paid For This Twice Already... Wed, 03 Oct 2007 15:53:04 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2565 [...] Personal Finance presents How to Deal With a 401(k) Plan That Sucks. It has great info! But also the title [...] […] Personal Finance presents How to Deal With a 401(k) Plan That Sucks. It has great info! But also the title […]

]]> By: Fundu Trader http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2437 Fundu Trader Tue, 02 Oct 2007 01:06:55 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2437 Not very easy to find out but worth trying to find out is the administrative cost/fee associated with your 401(K) plan. A 1% extra cost equates to about 28% reduction in account value over 35 years. Pretty drastic! Learn more about 401(K) fees by visiting the Dept of Labor site at http://www.dol.gov/ebsa/publications/401k_employee.html. Not very easy to find out but worth trying to find out is the administrative cost/fee associated with your 401(K) plan. A 1% extra cost equates to about 28% reduction in account value over 35 years. Pretty drastic!

Learn more about 401(K) fees by visiting the Dept of Labor site at http://www.dol.gov/ebsa/publications/401k_employee.html.

]]> By: 120th Carnival of Personal Finance :: My Retirement Blog http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2394 120th Carnival of Personal Finance :: My Retirement Blog Mon, 01 Oct 2007 15:20:36 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2394 [...] KMC from Advanced Personal Finance presents How to Deal With a 401(k) Plan That Sucks. [...] […] KMC from Advanced Personal Finance presents How to Deal With a 401(k) Plan That Sucks. […]

]]> By: shadox http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2346 shadox Sun, 30 Sep 2007 17:47:32 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2346 You missed the most important thing that people can do about their 401K: lobby the company to change it. Companies are really interested in offering a good 401K plan to their employees. The problem is that in many cases the person running the plan is someone from HR that has 0 understanding in the plan he or she is managing or in investing as a whole. If you offer your insights or formally file your complaints regarding the plan, there is a good chance that your suggestions will at least be considered. Be aware that companies are always worries about being sued by employees that are not happy with their retirement options. Each 401K plan is managed by at least 1 trustee who is personally liable for any improper decisions / improper management of the company's 401K. That's a very big incentive to listen to employees... You missed the most important thing that people can do about their 401K: lobby the company to change it. Companies are really interested in offering a good 401K plan to their employees. The problem is that in many cases the person running the plan is someone from HR that has 0 understanding in the plan he or she is managing or in investing as a whole. If you offer your insights or formally file your complaints regarding the plan, there is a good chance that your suggestions will at least be considered.

Be aware that companies are always worries about being sued by employees that are not happy with their retirement options. Each 401K plan is managed by at least 1 trustee who is personally liable for any improper decisions / improper management of the company’s 401K. That’s a very big incentive to listen to employees…

]]> By: Mrs. Micah http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2303 Mrs. Micah Fri, 28 Sep 2007 16:12:24 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2303 The company where I'm temping-to-hire currently matches in whatever you have, I think. But there's been some talk of matching company stock. I'm glad one can sell right away. Nothing against them, but I don't want stocks at all! The company where I’m temping-to-hire currently matches in whatever you have, I think. But there’s been some talk of matching company stock. I’m glad one can sell right away. Nothing against them, but I don’t want stocks at all!

]]> By: Stuff Worth Reading, Because I’m Approaching Retirement Age | Punny Money http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2301 Stuff Worth Reading, Because I’m Approaching Retirement Age | Punny Money Fri, 28 Sep 2007 15:06:14 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2301 [...] If your 401(k) plan sucks, here are some tactics for dealing with it courtesy of Advanced Personal Finance. Bonus tip: if your 401(k) consists of a tissue box someone put in the office break room with “401(k)” magic-markered on it, you might want to go with a Roth IRA instead. [...] […] If your 401(k) plan sucks, here are some tactics for dealing with it courtesy of Advanced Personal Finance. Bonus tip: if your 401(k) consists of a tissue box someone put in the office break room with “401(k)” magic-markered on it, you might want to go with a Roth IRA instead. […]

]]> By: Friday Finance Findings For September 28th : Generation X Finance http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2300 Friday Finance Findings For September 28th : Generation X Finance Fri, 28 Sep 2007 14:45:58 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2300 [...] How to Deal With a 401(k) Plan That Sucks - Let’s face it, not all employer sponsored retirement plans are great. Some don’t offer a match while others just have horrible investment choices. Advanced Personal Finance provides some tips to help you out when your 401(k) sucks. [...] […] How to Deal With a 401(k) Plan That Sucks - Let’s face it, not all employer sponsored retirement plans are great. Some don’t offer a match while others just have horrible investment choices. Advanced Personal Finance provides some tips to help you out when your 401(k) sucks. […]

]]> By: Money and Such http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2562 Money and Such Wed, 31 Dec 1969 17:00:00 +0000 http://advancedpersonalfinance.com/how-to-deal-with-a-401k-plan-that-sucks/#comment-2562 <!--%kramer-pre%-->do they ask for an ID. Checking is sort of an automatic, meaningless gesture for them. The one exception to this rule: Best Buy. I always get asked to show my ID at Best Buy, and I am glad to do so. Advanced Personal Finance has a good post abouthow to deal with a lousy 401K plan. The advice is all good, but he leaves out one critical piece of advice: lobby your company to change the plan. Companies are generally interested in offering a good 401K plan to their employees. The problem is that in many cases the person running the<!--%kramer-post%--> links from Technoratido they ask for an ID. Checking is sort of an automatic, meaningless gesture for them. The one exception to this rule: Best Buy. I always get asked to show my ID at Best Buy, and I am glad to do so. Advanced Personal Finance has a good post abouthow to deal with a lousy 401K plan. The advice is all good, but he leaves out one critical piece of advice: lobby your company to change the plan. Companies are generally interested in offering a good 401K plan to their employees. The problem is that in many cases the person running the

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