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Generic 401K Enroillment Form Generic 401 k Plan Enrollment/ Change Form Indicate Action New Enrollment Contribution Change Discontinue Contribution Employee Data Last Name First Name Middle Name Employee Number Social Security Number Address City State Zip Date of hire Date of birth Marital Status Single Married I wish to contribute 0.
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how's it going everybody visitors feed the bush today I'm going to talk about investing for absolute beginners now you could be a teen or just graduated from college and you've got a job where they offer you a 401k option most the time they just go here you go and then there's a bunch of investment options, and then you just pick one of them and then they go oh what's the division between this fund and that fund, and then you're left to try and figure it out yourself there's actually a lot more going on with the fund then you're just picking whatever percentage and just leaving it alone today I'm going to cover the things they don't actually tell you, but it's very important for you to know the background the psychology behind it just so that you are in informed an investor and you know what to do when certain events happen the first thing to know is sometimes if you change companies they might boot you out of the plan, and they might cash you out when that happens actually withhold taxes from it, and they send you a check that's very very bad if you ever let that happen you essentially have to open up a new IRA account put money in there including the withholding that you don't have anymore and also the penalty so let's say it's ten thousand dollars in the 401k account, and you got a check for like six thousand somehow you have to come out with another four thousand and put it in an IRA that might be really hard for someone just starting an incest so if you ever change companies and be kind of warned you they're going to close your account be very certain to roll it over as soon as possible because if you forget or fail to do it in time they will catch you out, and you're going to end up having to pay a lot of upfront money in order to avoid any penalties these company 401k plans usually have a lot of different funds that you can pick from generally I have seen anywhere from ten to twenty or thirty funds it's usually these target date funds sometimes they do have low expense ratio ETF funds or the indexes or whatnot, but this really depends on the plan that you have if you're just beginning to invest, and you got a total portfolio of maybe zero to twenty thousand dollars let's say the expense ratio is not going to be that bad on your total portfolio especially in the beginning because you don't have that much to compound yet, so you shouldn't be too worried about the expense ratio but just keep note of that whenever you have the chance to get a lower expense ratio do it if you're stuck in a plan that has high expense ratios don't freak out or anything let it invest if you ever changed up just roll it into an IRA and then at which point you can buy the low-cost index ones that you like a typical novice thing to do would be to time the market now I've done this myself I try to buy and sell a fun you essentially buy one fund within that 401k plan and then as soon as you sell it you actually cannot buy back into it for 30 days so what I actually...