Question I am a communications tech with comcast and have a 401k. Is there a way to have an investor help that grow much more than just letting it go on its own?
Thank you for your question! This really depends upon the specifics of your 401k. Some 401k plans are very basic with very few investment options, some are more complex with lots of choices. 401k plans are good in that in most cases there is some sort of match provided by your company, where they match your investment up to a certain point. But the disadvantage of 401k plans is that you are limited to the investments that are offered by that particular plan. Each plan is different in this respect.
Typically, the most common strategy for this is to invest only up to the maximum your company will match into your 401k plan. Then you could open a ROTH IRA account that is completely separate, and you would have the ability to invest in just about anything you want. If you consider this, I would strongly urge you to pick up a copy and read an introductory book such as Investing For Dummies (you can get it at most major book stores or on amazon.com). This will give you some details on both 401k plans and IRA plans, and some information on what types of investments are available, and how to manage your funds. Its a start.
Investing should be of significant concern, and you should learn what you can. Actively managing investments is difficult. If you start to read the above or similar book and find the material is just miserable and you can't stand it (many people find this is the case, but some like it), then put your funds into a general bond fund and S&P500 index fund. Most plans should have those options, and those are basic investments that can run with little monitoring.
I hope this helps, please do not hesitate to follow up with me if I can provide anything additional.
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