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Wow thats not many choices. Is there a cash fund so you can sit on the sidelines until you figure it out? Thats what I would recommend. If the company isnt matching your contributions there is no point in participating. Open your own IRA , or Roth IRA you will have more inveting freedom.
@Anonymous wrote:Wow thats not many choices. Is there a cash fund so you can sit on the sidelines until you figure it out? Thats what I would recommend. If the company isnt matching your contributions there is no point in participating. Open your own IRA , or Roth IRA you will have more inveting freedom.
Right, if there's no matching, then see if there's a "self directed" option. It's vitally important to avoid any and all mutual funds, if possible.
If not, then your suggestion to allocate the initial $5,500 into an IRA is a good one, but the person determine if it would qualify as a tax deduction. For instance, if memory serves (not a cpa), if a person makes above $60K and is offered a employer retirement plan, IRA contributions are not tax deductible.
Then, even a 401k with fee based mutual funds may still be the best option, given the current tax benefits.