Friday, September 17, 2010

401(k) Resources for Friday.

It's Friday, and I thought I'd share some articles I've been reading about 401(k)s. Why 401(k)s? Well, it's a topic I've been seeing an uptick in recently, and it's a topic I've been pondering for a while since I need to figure out what to do with my own 401(k) left over from a previous job. Do I keep it? Roll it over to an IRA? or a Roth IRA? Roll it over to my current employer's 401(k) plan? Cash it out?

Well, I'm pretty much resigned to not cashing it out, since that's a waste of money after taxes and penalties. But I'm also not rolling it over to my current employer's plan since they funds they offer are mediocre performers with fees on the high end.

So, I'll probably roll over to an IRA for now. But in the meantime, while I figure that out, here are some articles you may find of interest on the topic of 401(k)s.


JLP at AllFinancialMatters asks Would You Borrow from Your 401(k) to Pay for Your Kid’s College? I'd take a pass on this one for the simple reason that junior can get a student loan for college, while I can't get a loan to pay for my retirement.


Kyle at Amateur Asset Allocator shares a collection of 401(k) Calculators – Insight into Your Financial Future. This is a short and sweet primer to 401(k) calculators you can find online. They can be a good resource for basic 401(k) planning.

Frugal Dad asks What Will Retirement Look Like for Younger Generations? It's a musing filled with personal experience of the ever-changing job landscape of America that touches on the importance of having a 401(k) for today's younger workers as they navigate multiple employer careers,with no pension.


Meg at The World of  Wealth shares her Lopsided Asset Allocation. In short, she's got boat loads of assets in various categories and isn't quite sure how to track them. (I wish I had her problem!)


Joe Plemon at Personal Finance By The Book reminds us to Automate our investing. It's the point of books like Automatic Millionaire, and it's just good practice. Set it and forget, as Ron Popiel might say. It works in cooking, and it works in saving.

Finally, Joe Morgan at Simple Debt-Free Finance shares some thoughts on whether a 401(k) loan is a good idea?. He and I agree that it isn't a good idea for most people, most of the time, but he offers some interesting analysis on why and when it might be.

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