I too am a Series 7 among other things, and I tell my clients to take the company match and once that holding period has expired to roll out into other investment vehicles. Most plans are the cheapest the company can get and you are under no obligation to keep all of your money in that account once the match portion has been paid on the eligible funds.
“I too am a Series 7 among other things, and I tell my clients to take the company match and once that holding period has expired to roll out into other investment vehicles. Most plans are the cheapest the company can get and you are under no obligation to keep all of your money in that account once the match portion has been paid on the eligible funds.”
The company I retired from used Fidelity as their 401K plan.
They finally, in the my last decade of working, we got some really good choices and allowed us to make the choices including Fido’s excellent choice of funds in different market index funds.
After retirement, the investment choices were pared down, and they limited us to 2 withdrawals per year of your donations/money.
Our CPA at that time favored the Fidelity IRA plans and suggested that we roll my 401 k over a Fido IRA. We did and had great options often with no fee or a minimum fee re index funds.
My wife’s 401 K in spite of excellent matching funds had crappy choices from one of the major companies with 401 k plans. They allowed two withdrawals per year after she turned 70. So we opened a Fido IRA acct for her and rolled over funds from her 401 k, twice a year. She worked until she was 74+, and she had excellent matching contributions.
The day after she retired, we closed what was left in her 401 K and rolled it over to a FIDO IRA.
In spite of mandatory minimum withdrawals, with her FIDO IRA and my FIDO IRA, our balances are $’s over what we had before the minimum withdrawals started.
I’m sure that others have similar stories, and that is why politicians on both sides want to “ObamaCare” our retirement plans.