Lee Hyder is a solicitor for Howard Capital Management and returns shown are Howard Capital’s aggressive allocation for 401K’s. Lee Hyder & Associates Wealth Management, LLC is a registered representative and makes this and other allocations available through Howard Capital Management LLC. Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. Lee Hyder & Associates Wealth Management, LLC is registered as an investment advisor with the state of Ohio and only transacts business in states where it is properly registered, or notice filed or excluded or exempted from registration requirements.
There has been 2 new critical components that may have been added to your 401k that you may not be aware of that we address in my latest book Corona Chaos: How to protect your 401k from the next pandemic.
- In-service transfer: This allows you while you are still working if you are 59 ½ years old or older to transfer your 401K from your company plan to IRA of your choice. This gives you more access to your funds and to create a custom designed portfolio. This will not close your current 401k plan and your current 401k will continue to be funded by your current payroll deductions unless you make any changes to the plan.
- 401K Broker Link/ SDBA (Self Directed Broker Account): Is a window inside your 401k which gives you the ability to invest in everything your current custodian offers VS. the current limited investment choices or target funds your plan offers. In addition if you do have a broker link you want to ask if the plan permits 3ard party management. Now that your investment choices went from a limited amount of investments to literally thousands, 3rd party management allows you to hire a financial advisor to help you.
To determine if you have either of these options available you need to reach out to your custodian (That’s whoever sends you your 401k statements) and simply ask if your 401k plan has an In-service transfer and or a Self-Directed Broker Account and 3rd party management.