Does anyone out there have experience with a self managed account in their 401k? I have one, and all of the annual reports for the stocks I own come to me via a link in an email, rather than being physically mailed to me. I don't want to stare at a computer monitor trying to understand all the financials, so I tried to get them to start mailing them to me. According to my info, each company sends the literature to the brokerage house that holds the stock certificates, which is State Street Bank & Trust. Then, it is their responsibility to forward them to the shareholder. I asked the folks at State Street to mail them and they just acted stupid (which is scary in itself). So, is anyone getting annual reports mailed to their house, or is electronic delivery the only way our plan will send them out?
401k Plan - Self Managed Account
- Thread starter gumbybros
- Start date
Tieguy, I have about 20 different stocks. Figure 50 pages minimum for an annual report, plus proxie statements, etc. I'd be printing way over a thousand pages. They already have my email address and I've had it forever, so I don't want to change it just to force their hand...At least not yet.
As for my experience with a self managed account; I'm enjoying it so far, and I think I'm ahead of where I would be if I hadn't gotten into it. It can be a lot more volatile depending on what you buy, but if you luck into the next Walmart or Dell the rewards can be great. And they are out there, or will be. Look at the 5 year return on most of the funds the plan offers,(other than the s&p 400 and the russell 2000) and you feel ill. I subscribe to a financial news letter - Motley Fool Hidden Gems), and I would highly reccommend paying a financial consultant for advice once in awhile.
As for my experience with a self managed account; I'm enjoying it so far, and I think I'm ahead of where I would be if I hadn't gotten into it. It can be a lot more volatile depending on what you buy, but if you luck into the next Walmart or Dell the rewards can be great. And they are out there, or will be. Look at the 5 year return on most of the funds the plan offers,(other than the s&p 400 and the russell 2000) and you feel ill. I subscribe to a financial news letter - Motley Fool Hidden Gems), and I would highly reccommend paying a financial consultant for advice once in awhile.
beentheredonethat
Well-Known Member
I've done self managed for a while. I liked it and enjoyed investing my own money. However, I got to the point where I had a sizable % of my investment in the self managed fund and it started to become a chore instead of enjoyment. At that point I switched back a lot of money into the regular funds and invest about 20% of my money in self managed. It's now at the point if I do well with the stocks I really help out my retirement, but it's not too much where it is no longer enjoyable. If you do go the self managed route, make sure you get the links to the web site to buy and sell your orders. The first few months I did it, I did it by phone and the commisions were incredibly expensive. The commisions on the web are a lot cheaper, but it's still more expensive then it should be. It's about 30 per transaction for up to 1000 shares of a stock. After 1000 shares the price goes higher.
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