A friend of mine is a financial planner and helped me to roll over a 401k when I quit my job several years ago. His name is Larry Baettens and he is a partner with "Wellington Financial". His office no. is 586-263-3243. He is very knowledgeable and won't steer you wrong.
I think that because it was a little over $100k, the fund he hooked me up with matched my roll-over with a 4% contribution. Every contribution after that (regardless of how much) is also matched. The interest I made on the fund was out standing! When the economy was good it grew faster than when my employer ran it.
This all occured several years ago, so I don't know if that plan is still available.
Forget the 401k and buy real estate and buy and sell those fixer uppers, you're a handy girl. or better yet get in with Ck and buy a bar
ask the Taxman about it. All I know that no matter what playing around of funds that I did my 401k lost money for almost 24 months, this last quarter was like the first time that things appeared on the upswing. I know, " Pauli's Shore Bar" woo hoo!!
QUOTE(tsunamihart @ Sep 12 2003, 11:24 AM)Forget the 401k and buy real estate...
That's what I'm doing. Real-estate is everywhere and here forever. Everyone needs a place to live and are buying/selling/renting etc. If you are creative, you could easily buy a few houses a year... hell I bought 5 investment houses last year and started to build my new house, so I know it can be done.
P. I am no expert, but I take all of my extra cash and buy more equity in my house. Nothing appreciates like realestate and it's easier than dealing with different people that all have their hand in it and different accounts, and there are no tenants to deal with either.
Keep in mind Pauline, that with the market on such a downturn, we are buying up stock at bargain-basement prices right now!
Get into a retirement fund that includes mutual funds based on the S&P 500 and the US Equity Index and BUY BUY BUY! At our age, we need to be very aggressive since we have another 25 years to recoup any significant losses we incure now.
When the market comes back (and history dictates that it will) we will be looking back at this time and thanking God we bought so much stock when the price was so low. We're gonna retire as millionaires.