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Enron? Yeah I knew some of them and they are still not happy. It was all good up until the day it was all bad. Bad, meaning broke.

Go to your HR tomorrow and ask them if you can move your 401k to another location of your choosing, Be prepared for a surprise, They don't want you to move it.Ask yourself why that could be?

1 posted on 09/16/2013 9:55:53 PM PDT by SteelTrap
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To: SteelTrap

http://www.barnhardt.biz/2013/09/13/this-is-why-i-keep-doing-this-401k-happy-story/


2 posted on 09/16/2013 9:56:39 PM PDT by SteelTrap
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To: SteelTrap

Most places offering 401ks also offer several different mutual funds in which people can invest their 401K funds and are able to diversify within those — the companies can’t provide everyone with a different set of investment options. If you are already over 59 1/2 or left the company, THEN you can usually roll over your 401K into a Rollover IRA, where you can invest it as you choose, at a brokerage firm or mutual fund family of your choice.

Mentioning Enron is ridiculous — people who were stupid enough to have all their retirement savings in one stock — Enron, indeed lost all their money — but people who had their 401k investment in different mutual funds offered by the company through a fiduciary, were not impacted.

All financial advisors always tell everyone to diversify.


3 posted on 09/17/2013 1:04:38 AM PDT by Innovative ("Winning isn't everything, it's the only thing." -- Vince Lombardi)
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To: SteelTrap

Also — I think the way 401k-s are set up is that legally you cannot take control of it.

Also — nobody forces anyone to invest in a 401K.

I think Ann Barnhardt’s advise is unreasonable and unfeasible and also against the defined 401K rules.


4 posted on 09/17/2013 1:08:20 AM PDT by Innovative ("Winning isn't everything, it's the only thing." -- Vince Lombardi)
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To: SteelTrap
Tell your employer to pound sand.

Then roll your 401K into a brokerage IRA, where you can buy and sell with the click of a mouse.

This may or may not involve bridge burning. YMMV.

5 posted on 09/17/2013 1:21:04 AM PDT by cynwoody
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To: SteelTrap; All
Boy I don't know, this is not investment advice, however it maybe background data. Years ago the insurance based Financial Advisors used to try to take advantage of a little known option in some plans known as In-Service Withdrawal Class. As it has been explained to me, some firms in converting from a Thrift-Savings type plans in the 80's under Reagan to a 401k had this option continue. This In-Service Withdrawal Class would allow you to Roll-Over ( this maybe be different from company to company ? ) the Companies Contrbution to an IRA, not your contribution.

So at best, it is partial not the full amount. Correct me if I am wrong, but the ony way out of a 401k, as an active employee is to stop contributing, or leave the firm and proceed with a Rollover. Retired early, access before 59 & 1/2 by rule 72T aka SEPP is another matter for another day...

I don't know where Ann is going with this, but HR might start thinking your a crank if you start trying things here. Tangent to this, their have been very well informed employees have approached HR and have pursuaded them to offer more investment options and or change providers ( lower cost no load etc ), but these are rare bears for sure...

6 posted on 09/17/2013 2:53:26 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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