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Financial Planning / Foolish 401(k)s


Subject:  Re: start 401K Date:  4/2/2001  10:03 AM
Author:  pauleckler Number:  11432 of 26270

Excuse me alizadeh, but there seems to be some confusion here. You may open a 401K plan for your employees only if you own a company. Then the plan is for the whole company and you would probably work with your accountant to find one that is affordable and meets your needs.

There are several similar plans for small business owners.

But individuals do not have their choice of 401K plans. Their employer offers one, and that is the only one they can choose. Those who work two jobs and thus have two employers offering 401K plans have a bit more choice, but thats a fairly rare occurence.
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