can you invest money without a 401k?
613153
Sure, there a number of ways.  If you're 18 or over, you can start up a brokerage account pretty easily and invest that way.  If you're under 18, you could still do it using a custodial account.  Those are probably the easiest.\n\nOptionally, you could start putting money into retirement accounts, such as Roth IRAs, which have tax benefits.
1125529
Some employers will match a portion of your 401K savings.  Y ou can't do that with an IRA
782690
Mutual funds are appropriate for some and the wrong investment for a growing number of people.\n\nFor me, I would NOT invest in mutual funds if it weren't for having a 401K. \n\nOverall, Mutual funds are not good (once you're educated in investing) and many people should not invest in mutual funds unless you have to (like if it were a requirement in a 401K).\n\nHere's why.\n\nFirst of all, mutual funds exist to take average person's money.\n\nSecond, mutual funds seem to be "happy" just to do better than the S&P index, since that's often the gauge. A monkey, yes monkey, can usually outpick most mutual funds. Over 60% of the mutual funds out there can't even outperform the market (CNBC just reported the current # was 72%). That's VERY SAD!\n\nThird, mutual funds have embedded management fees in their costs. Most of these mgmt fees are 0.5% to 2% annually.\n\nFourth, most mutual funds exist not to earn you a lot of money, but are more interested in NOT "losing" you lots of money. That way you stay with them and they continue to collect their fees.\n\nFifth, mutual funds are not as liquid as one might think. If you're in mutual funds and a Bush talks in the morning and you call your broker to sell because the market is now tanking, the broker will gladly take your order, but the order will not be executed until the day is over and the negative impact is already priced into the fund.\n\nSixth, many mutual funds charge extra "fees" if you buy/sell their fund within a certain amount of time, meaning you must keep your money in the fund 90 days to 2 yrs before you're free from the fees (read the fine print on trying to get a withdrawal). These fees can be up to 3% or so of your money as well.\n\nSeventh, mutual funds have to be in the market. So if the market is crashing or going down like it has between May and now, then the funds still have to be in the market and taking those losses too. With some practice, you can time your monies to avoid some of those losses (it'll take practice).\n\nConvinced yet? Need more? \n\nEighth, mutual funds have to be pretty diversified and so if there are hot and cold sectors, they are probably in both the hot sectors and cold sectors. However, as an investor, you can buy into just the sectors you want, like metals, or housing, or energy, etc. or right now, Brokers/Dealers, Retail, and insurance!\n\nNinth, mutual funds are so big, they can only invest in certain companies. A small mutual fund with $10 billion in assets. 1% of that money is $100 million. How many companies are this big where $100 million investment isn't the whole company? Do you want to limit yourself to just those larger companies like Times Warner, Microsoft, home depot, cisco, ebay which have been sideways for years? I think not.\n\nA better way would be to buy ETFs (exchange traded funds) or holders. These trade like stocks, so are very liquid, and do not have the high fees like the mutual funds. Further, you can buy/sell them as you wish. They represent sectors or indexes, so buying them gives you the same diversification as the sector/industry/index, but with much less overhead!\n\nSee Amex.com (american stock exchange) or ishares.com, holders.com for more info. \n\n\nYou need to invest for yourself. If you can't, then sure, use mutual funds. But be aware of the shortcomings (and as you can see, there are many). \n\nLet me know if you have further questions. \n\nBest of luck!
481808
That's a GREAT question and an important one. If you quit a firm that has a 401K (I presume you mean that by the Keough) you can TAKE IT WITH YOU in a single traditional IRA account. YOU GET TO KEEP WHAT YOU EARNED in a traditional IRA. This is advisable, as you can put the investments into funds or stocks that you choose. Your 401K has choices made by your HR dept, not always for how good an investment it might be, but based on choosing a 401K plan that can be administered cheaply by the benefits department. While you can leave it at the 401K plan, you are far better off to transfer it to your own IRA account.\n\nSo, to better your results, transfer your 401K when you leave by contacting the HR dept and asking for a distribution form. DO NOT take the check yourself, have the 401K transfered directly into your IRA account you've set up at a brokerage. Your broker will direct you into better investments, or you can research this yourself and do it yourself with fund companies or online brokerages if you feel you are willing to spend the time on the research.
1135185
Setting up a Self-Employed 401(K) plan is a breeze relative to other larger 401(k) plans. Many providers, mostly mutual fund companies, offer easy administrative requirements – without any voluminous paperwork involved.\n\nThere are a number of 401K providers, and some have different features offered compared to others. Some -- but not all providers -- allow you to get a loan of up to the lesser of $50,000 or one-half of your Self-Employed 401(k) account balance. Others allow you to invest in real estate.\n\nWe have our 401K for the self employed with Fidelity Investments http://personal.fidelity.com/products/retirement/getstart/newacc/keogh.shtml.cvsr - they don't allow real estate investments and has no loan feature but the variety of mutual funds, stocks. ETFs, money market instruments, etc. that are available is what we need to grow the money. Some 401Ks only allow mutual fund investments.\n\nAside from Fidelity, here are other 401K solo providers:\n\nAIG SunAmerica Funds http://www.sunamericafunds.com/sun.nsf/home?OpenForm\nAIM Funds http://www.aiminvestments.com/\nBenefitStreet http://www.benefitstreet.com/\nEnterprise Funds http://www.enterprisefunds.com/\nNorthTrack Funds http://www.northtrackfunds.com/display/router.aspx?docid=10001 \nPioneer Funds http://us.pioneerinvestments.com/default.jhtml?jumpto=Investor http://www.dws-scudder.com/t/external/splash/index.jhtml\nScudder Investments
100055
Yes you can. Check out Equity Trust Company on the web. The ability to shield capital gains from taxes by using your IRA is an incredibly powerful tool.\n\nwww.trustetc.com
144928
You can use Turbo Tax at a 50% discount through Fidelity Investments. You don't have to have an account with them.
582371
As lovely an idea that it, no it won't avoid any taxes. The only way to avoid the capital gains or ordinary income taxes on ivestments is for you to invest in a tertirement account like an IRA or Roth IRA or employee benfit plan.\n\nIt sounds like you own a business. Speak with your CPA to find out which plan is best for you. SOme examples are\n\nSEP\nSimple SEP\nSimple IRA\nSimple 401k\nRoth IRA\nTraditional IRA\n\nAS you can see, there are alot of choices. Each one has its benefits and srawbacks. Some are tax free and some are just tax deferred until retirement.\n\nIf these plans arent an option for you, look into index funds, they typically have low if not any turnover. \n\nTurnover=capital gains=taxes\n\nGood luck
524763
Under IRS rules, you can only roll over a 401k into a Traditional IRA and wait at least one year before moving it into Roth IRA. Remember, 401k sitting in previous employers will not have any growth. It is a frozen account until you roll it over.\n\nIRAs are always a good plan to save for retirement. You can pick any mutual funds that is offered by a financial institution (most mutual funds require a minimum initial deposit of $1000). And can be tax free after age 59 1/2 when you start using it.
1180526
No, you cannot withdrawl it without a 10% penalty plus ordinary income taxes (probably around 28%). My opinion....you would be beter off rolling that money over into an IRA and just save for a while to raise money for home improvement projects.
881018
Contact a Mutual Fund, such as T.Rowe Price or Scudder or a number of others who will act as administrator for your plan for clarification of your needs. \n\nThe basic 401(k) plan simply allows employees to make pre-tax contributions up to a certain level, with no company contributions.
1012922
These people are so silly!  The best thing to do is open an investor account like at ScotTrade.  Put the money in a mutual fund that has a very low Expense Ratio (less than one...say 0.76%.  You can find this info at Morningstar.com...)  Buy into the mutual fund that you choose and even buy more shares with monthly payments into the account.\nYou would be shocked an amazed at what 25 dollars a week will do over thirty-five years.  In fact, if everything keeps going well with the mutual fund, you should be able to retire in 35 years, and that is not counting a 401 you have with a company or even your social security!\nGet to saving now!  Let your money work for you!
81277
If your company offers a 401K plan, take advantage of it.  They'll take out a fraction of you paycheck (as lo as 1%) and invest it in a mutual fund.  Many companies match your contribution, so that's like free money.  \n\nIf you just forget about it and just let it grow, you'll soon build up quite a bit of dough.\n\nIt's tax deferred, so that means you won't pay taxes on it until you cash it out.\n\nThe only drawback is you can't cash it out until you're 59 and a half without paying a penalty.
931150
Walk into your local bank... go to new accounts.. and open a Roth IRA. They will gladly take your money and put it in the risk level of IRA's that they have.... just go outside your current 401k. \nMy company matches 10% of what I put into my 401k. It would be foolish for me to not put in that amount. If it was a crappy 401k, I'd only put in what am mount that they matched, and then put the rest into a Roth.
634009
I would suggest that you talk with someone in your bank to begin with. They do have experts in the field.\n\nNow, I have my 401K with Fidelity and like them fine. They are huge and offer many different investment options. They also can give you pretty good advice if you tell them what kind of investments you are interested in (long-term, very stable, higher risk but higher pay-off, gold - not a bad investment these days). \n\nI also have some stock through Scot Trade. It costs only $7 per transaction no matter how many shares you are buying or selling.\n\nNo matter what you do, understand that people can and do both make and lose money in stock markets and real estate. \n\nAnd as strange as it may seem, some of us are able to make over 50% return on our investments per year. Right now, today, I am out of the market and waiting to go back in. *grin*
1123171
According to Section 408 of the IRC, you can purchase land, commercial property, condominiums, residential property, trust deeds, or real estate contracts with funds held in many common forms of IRAs.\n\nThe trick is finding an IRA custodian who handles real estate.  But it can be done.  Once you find such a custodian, you would simply roll your 401K into an account.
121058
If your time horizon (retirement date) is more than 20 years out, its best to invest in a 401k plan rather than invest in a taxable plan.  The reason is that the 401k has certain tax advantages which allow you to defer current taxes out into the future which gives you more money to compound earnings against.  Also, if you are an employer, you dont pay employer taxes against the money invested in the 401k plan.