NoMoMo,
I don't know who your 401K fund administrator is, but by going with one of the "Fund Supermarkets" (e.g. Schwab, Fidelity, etc), you have basically unlimited choices. You can offer a "401K brokerage option" that will allow you to trade just about any mutual fund or individual stock. You can set up an online account and trade the same as you would a taxable account. Like dynamite, this option is powerful in the hands of the right people, deadly to one's retirement in the hands of the wrong people!
Limitations on trading are imposed by IRS rules on 401K accounts, not the fund administrator. (1) no margin accounts, (2) no shorting of individual stocks, (3) no derivative instruments (options, futures, etc.) (4) no physical assets (physical gold, antiques, collectibles, etc.)
For detailed advice on how to set up such an account, contact an institutional rep at Schwab, Fidelity, and some of the other larger providers.
BTW, I don't work for any of these firms...this is just an effort to pass along some info. Good Luck!! |
