Category - 401k Center

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2 Reasons Why You Should Rollover Your 401k plan
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Protecting Your 401k From a Government Default
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Why An Individual 401k May Be The Best Retirement Plan For Small Business Owners
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How To Protect Your 401k From a U.S. Government Default
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How To Withdraw Money From Your 401k

2 Reasons Why You Should Rollover Your 401k plan

If you have a 401(k) plan (or any Qualified Retirement Plan (QRP) such as a 403(b) plan), when you leave employment at that job you can rollover the plan funds to an IRA or another QRP at a new job.  Listed below are 2 very good reasons that you should use a Direct rollover (also known as a trustee-to-trustee transfer) instead of the 60-day rollover.

A 60-day rollover is where the former plan distributes the funds from your account to you, and in order to make the rollover complete you must deposit the entire distributed amount into the new plan …

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Protecting Your 401k From a Government Default

There seems to be some hope of a solution as Congressman Ron Paul Says `No Doubt' debt ceiling will Be raised. He was interviewed on Bloomberg late Thursday 7-28-2011.

Also Roger Altman, a former Treasury Assitant Secretary did not feel we would have a Treasury default. He was interviewed on Bloomberg on 7-29-11.

David Rosenberg of Gluskin, Sheff said today he feels that the Treasury won’t default and that the crisis could be cathartic resulting in steps being taken to make the nation’s finances better.

My opinion regarding an extreme case of potential default is that if the government refused …

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Why An Individual 401k May Be The Best Retirement Plan For Small Business Owners

If you’re self-employed or own a small business, you’ve probably considered establishing a retirement plan. If you’ve done your homework, you likely know about simplified employee pensions (SEPs) and savings incentive match plans for employees (SIMPLE) IRA plans. These plans typically appeal to small business owners because they’re relatively straightforward and inexpensive to administer. What you may not know is that in many cases an individual 401(k) plan may be a better deal for you. An individual 401(k) plan is worth considering if you’re looking to set up your first retirement plan or increase tax-preferred savings.

What is an individual

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How To Protect Your 401k From a U.S. Government Default

A 401K may have limited investment choices, so it may be difficult to find something to invest inside the 401K that will protect your money from a Treasury debt default. Many 401K's offer only a few equity mutual funds and two bond funds, with no way to invest in gold or foreign currency.

One Scenario

One possible but weak solution would be to invest in a short term investment grade money market mutual fund or a “Guaranteed Income Fund” (GIC) offered inside of many 401Ks. Even those are risky. When Lehman failed a prominent money market fund lost 3% of …

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How To Withdraw Money From Your 401k

Are your funds trapped in a 401k? You could ask your employer to do an “in service” transfer to your IRA. 401k’s with in service transfers are not common. ("In service" means that you are still working at the employer). Usually the Plan Documents do not allow an employee to transfer the funds out of his or her 401k while they are still an employee, so the funds may be trapped in the 401k until the person is no longer an employee of their company.

If you are allowed to transfer the funds out of a 401k while still at …

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