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Hi,

I am currently in the process of looking for a job. Talked to a company, heard that if I work, I should take care of everything myself, so can I start a 401(k) account and an IRA account myself? How does it work? Can anyone tell me about a webpage so I can know more on this?

Thanks.
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I am currently in the process of looking for a job. Talked to a company, heard that if I work, I should take care of
everything myself, so can I start a 401(k) account and an IRA account myself? How does it work? Can anyone tell me
about a webpage so I can know more on this?


A selfemployed person can not have a 401k.

Go to Fidelity.com and look at their retirement account opeions. This should give you an idea how they work.
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<< I am currently in the process of looking for a job. Talked to a company, heard that if I work, I should take care of everything myself, so can I start a 401(k) account and an IRA account myself? How does it work? Can anyone tell me about a webpage so I can know more on this? >>

The company intends to treat you as an independent contractor, not an employee. This usually means no benefits, along with the tax and retirement issues the self-employed face. In addition to the advice you've already gotten, I suggest you mosey over to the Tax Strategies board, in this folder, and read up on self-employment.

TMF ExRO
Phil Marti
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In particular, you need to look into the SEP, SIMPLE, and Keogh plans, created for the self-employed.

Check a couple of discount brokers for the plans they offer - fees and selection of investment choices vary widely
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Thanks so much for the replies.
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