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Financial Planning / Tax Strategies
|Subject: Re: 401K for small business||Date: 8/5/2013 4:58 AM|
|Author: joelcorley||Number: 118971 of 121097|
You wrote, One last question - let's say I open a small business 401K (or whatever it's called) with Fidelity (or anybody else), can I then purchase stocks within that 401K acct? I am not talking about constant trading - but maybe buying a few nice stable dividend stocks and leaving them in there for the long term?
Or once I get in on a 401K, am I just at their mercy on how the money is invested? Thanks for all the advice.
I've investigated, but never opened a solo-401k. Since you're considering Fidelity, I looked up their solo-401k summary page. https://www.fidelity.com/retirement-ira/small-business/self-... Looks to me like its much like their IRA accounts in terms of options and fees. In other words, you should be able to invest in just about anything and do it without any special fees. Of course I'd contact the brokerage just to make sure.
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