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Updated about 8 years ago, 11/16/2016
- Accountant
- New York, NY
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Cost of Retirement plans
Hi Everyone,
I hear a lot of chatter about self-directed 401K/IRA accounts and how they are great because they allow you to invest in things outside of stock/ETF/Mutual funds.
For those who have set up these self-directed 401K/IRA accounts.
What is the initial cost to set this up?
What is the annual costs for upkeep?
What is the cost of drafting loan that allows you to take up-to 50K from your 401K
Unfortunately, I have not been able to find this information online. I just want to do some calculations and plan accordingly.
Backstory: I currently work for an employer where I contribute to a generous 401K plan. I just wanted to plan ahead if rolling over the balance to a self-directed 401K account once I leave my employer to do some entrepreneurial activities.
Thanks,
Basit
- Basit Siddiqi
- [email protected]
- 917-280-8544