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Investing/Strategies / Retirement Investing
|Subject: Re: individual 401k accounts||Date: 12/18/2007 6:11 PM|
|Author: LatinoDude||Number: 60440 of 74002|
You might want to also look at a Solo 401(k) from T. Rowe Price.
From their site:
* There are no commissions or plan setup costs
* Choose from more than 65 no-load mutual funds
* We keep our mutual fund expenses low to help you save even more
* An annual $10 administrative fee is charged for each mutual fund account with a balance of less than $5,000. This fee is waived for shareholders with $50,000 or more or households with $100,000 or more in total assets at T. Rowe Price
* There is a $10 closeout fee applied to an account that is closed at T. Rowe Price. The fee will be deducted automatically from the proceeds of the redemption from each mutual fund unless, at the time of redemption, the annual administrative fee for the year has been paid. The closeout fee applies regardless of the size of the mutual fund investments
The amount of money you're planning on contributing should easily help you overcome the $5K minimum balance to avoid the $10/year/fund fee if you stick to just a few funds.
There's also a Roth option, it just requires a little more paperwork.
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