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URL:  http://boards.fool.com/thank-you-all-for-your-help-ive-been-putting-off-19188649.aspx

Subject:  Re: rollover to IRA or 401k Date:  6/14/2003  5:08 PM
Author:  wtam Number:  65856 of 121219

Thank you all for your help. i've been putting off making the decision pending doing more investigation starting with the basics, and that's a lot to wade through.

Well, i'll still be doing some due diligence research, but your points are well taken and at least give me a good shove in the right direction.

so now i am predisposed to the IRA. I also heard that if you put the funds into a "rollover ira". in this case you cannot make additional contributions and do not comingle the funds with other ira funds, and that allows you at a later date to move the money back to an employers 401k if you decide to do so.

with regards to setting up a 401k, i have heard that traditionally setting up and managing 401k's are a tricky business. but i did notice that a number of discount brokers (firstrtrade, ameritrade, brownco) offer standard/boilerplate plans that have been used previously and/or have had an irs determination made that it is a qualified plan. so that led me to believe that you could adopt one of those pre-approved plans that would keep expenses to a minimum. still will take developing a better understanding of 401k plans that most people want to know. and then there is the problem that if the laws change, how do you make sure you keep up to date / comply without a professional in the area monitoring it?

per your advice, i concur that putting my rollover funds into an ira is the best route. how about for new funds? could anyone give perspective on the pros/cons of choosing between using a traditional ira, sep ira, simple ira, or a qualified 401k plan? as i indicated before, i am doing business as a corporate entity. currently have no employees but could have some in the relatively near future.

again, thanks all for your help.
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