[Hidden-tech] Personal 401k plans

Andrew Bellak andrew at stakeholderscapital.com
Tue May 28 17:54:18 EDT 2013


Hi Andy,

Both Mark Kurber and Mark Firehammer bring up good points.  I'll throw 
in my two cents as this is our bailiwick as well.  There are a few areas 
to consider:

  * DIY or pay for advice
  * custodian - where my account is located, and
  * available investments, and
  * tax form

Rob at Social K has created a nice product and socially responsible 
investing is our specialty.  You can set one up through them and I 
believe you can choose a total of about 20 investments (out of maybe 700 
funds) from which to choose without any extra fees.  I do not think you 
can buy individual stocks or bonds.

The Individual or solo 401k can be a great vehicle for a solo or solo 
plus spouse business person and you DO NOT need to be incorporated.

In terms of T. Rowe Price as a custodian, or place where your account 
and securities are held - kind of like 'the bank',  I do not have 
experience with them.  Again, choices in which to invest may be limited.

For fees, ask a rep. to send you all the fees in writing.

At other custodians, like TD Ameritrade, Charles Schwab, Fidelity, 
ETrade, etc. you can open new or transfer to WITHOUT penalty or fees an 
Individual 401k.  Sometimes the custodian closing or losing the account 
may charge a $50 fee.

At any of the custodians I just mentioned, you have choice to invest in 
many, many securities: thousands of mutual funds, exchange traded funds 
(ETFs), stocks and bonds (and other flavors if you want to dive deeper).

We help set these up and manage the investments also in the context of 
someone's overall circumstances.

Once the value of the plan exceeds $250,000 you must file a form with 
the IRS.

Good luck with your journey and feel to contact me on or off list.

Sincerely,
Andrew

On 5/28/2013 11:17 AM, Mark Firehammer wrote:
>     ** Be sure to fill out the survey/skills inventory in the member's area.
>     ** If you did, we all thank you.
>
>
>
>
> Rob Thomas at Socialk has a program for individuals. It's called Solo(k)
> If you care about your investment portfolio being socially responsible 
> then there's another reason to call him.
> Social(k) <https://www.expertplan.com/socialk.jsp>
> Social(k) blog <http://blog.socialk.com/>
>
> Mark*
>
> Mark Firehammer*
> *Toll Free*:*(877) 745-2616*
> *Direct Line (413) 341-6888 Voice or Text*
> *Office Line: (413) 650-6276*
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>
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> On Tue, May 28, 2013 at 8:38 AM, Andy Klapper <andytk at charter.net 
> <mailto:andytk at charter.net>> wrote:
>
>        ** Be sure to fill out the survey/skills inventory in the
>     member's area.
>        ** If you did, we all thank you.
>
>
>
>     I was wondering if anybody spent any time looking at 401k plans
>     for companies of one.  I have a plan through T. Rowe Price for my
>     consulting business that only employs me and I have nothing bad to
>     say about them other than I fear that I'm paying too much in fees.
>     This fear isn't based on anything other than an NPR report saying
>     that 401k fees are too high and that I went with T. Rowe Price
>     went I started my business because my last full time employer used
>     T. Rowe Price.
>
>     This is a long way of saying that I never shopped for a 401k plan
>     and I was wondering if any of my esteemed hidden tech company of
>     one colleagues has spent the time evaluating 401k providers and
>     can share the fruits of their efforts with me.  I also figure this
>     may be something of interest to others as the 401k deduction is
>     quite generous for sole proprietors.  (Strictly speaking it's a
>     combination of SEP and 401k but I use 401k because more people
>     know 401k's than SEP's, even if they are functionally the same and
>     simply different parts of the tax code, at least as far as I can
>     tell).
>
>     Thank you in advanced,
>
>     Andy.
>
>     Andy Klapper
>
>     Asgard Technology Group, LLC
>
>     Making Complex Software Simple
>
>     High Speed Multi-Threading Specialists
>
>     5 Anna Marie Lane
>
>     East Longmeadow, MA 01028
>
>     Andy at Asgard-Tech.com <mailto:Andy at Asgard-Tech.com>
>
>     (860) 805-1189 <tel:%28860%29%20805-1189> (cell)
>
>
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-- 
Andrew Bellak
CEO
Registered Investment Advisor

andrew at StakeHoldersCapital.com
www.StakeHoldersCapital.com
(o) 888-STK-HLDR (785-4537) x.2
(o) 413-306-3244
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(m) 646-552-5783

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