Reasons To Participate In Your 401K


Russell Bailyn
Premier Financial Advisors
14 E. 60th Street, #402
New York, NY 10022
212-752-4343 *31
Securities and certain investment advisory services offered through: FIrst Allied Securities, Inc., a registered Broker/Dealer. Member: NASD & SIPC. Premier Financial Advisors, Inc. is a Registered Investment Advisor. First Allied Securities & Premier Financial Advisors are not affiliated entities.

2 thoughts on “Reasons To Participate In Your 401K”

  1. I am 36/single, dont own a home. I have left my job and starting my own company, I have $80K+ in a profit sharing plan that I need to roll over. What would you suggest I roll into, a 401K or an IRA, what is the difference? Unfortunetly a few of the funds are B, would you suggest leaving until they become A or suck it up and pay the penalty? I already have a ROTH IRA.
    Also, I just purchased a new car and I am paying 7.82% interest on a $49K loan for 5-years, someone suggested I roll the money over to a 401K and borrow the money it and pay myself the interest, is this a good idea? Will a good 401K generate more then 7.82% return over the 5-years? Would I be better off paying the interest to the bank and leaving the money in the 401K?
    Thank you in advance.
    Mike

  2. Many people are not aware and are not told about the options that they may have with a 401k rollover. BOA, Schwab and other large investment firms advertise IRA rollover products which are not truly self-directed. They limit your investment options and have onerous fees and hidden expenses.

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