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Originally Posted by Vortech404
I read most of these pages and come to the conclusion that the funds I have been contributing to for the last 8 years kind of suck.
Unfortunatly though my UPS/Teamster 401k plans all the plans are really safe. S&P 400, S&P 500, Russel 2000, etc. I contribute the FUND which has pre selected stocks/bonds in the fund. I'm not able to select one stock per say. I purchase UPS stock and a discount of 5% on the lowest quarter.I put 12% or 10k into the fund a year pre tax. I just started a Roth, not much in there. I'm thinking my 401k plan stinks with too many bonds.
Should I stop my current 401k plan with the teamsters and open another one that I can select better perfoming stocks"more control of where my money goes"? Could I still purchase these stocks pre tax to lower my income for tax purposes? Say I put $200/week into these stocks, say I pick 6 or 7 stocks I like. Are you guy's holding onto the for say 20 years or are you constantly buyiong selling. I don't know much about the market and wanted kind of set it and forget it approach or is that dumb.
Thanks guy's
John
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Don't stop the 401k. What brokerage is it thru? Fidelity has an option called Brokeragelink that will let you buy stocks. If. You are really limited than consider only enough to maximize the matching.