Roth 401k paperwork!

[summer2007]

I decided to start my Roth 401k and got onto Trowe price's website and got started. To start an account there must have been at least 20 pages to print out!

I started a regular account with Vanguard online in about 30 minutes start to finish...and I bet most people could do it a lot quicker...so I was not expecting this much of a mess. I have forms all over my room.

My reason for going with Trowe price was because they are one of the few that I found that offer the Roth 401k.

All I need is just a Roth 401k for myself...i have no employees and it seems like such an excessive amount of paperwork...and I don't even understand some of the questions.

Just wanted to see if anyone started a single person Roth 401k with a different brokerage and if there was as much paperwork.

Thanks

Jim

 

[Martha]

Odds are there is more paperwork because it is a 401k. And add to it, a Roth option. IRAs are simpler.

 

[mn54]

I have my accts. with Fido. I checked with them about a roth 401k but as of now they do not offer this. Hopefully in the near future they will have it available.

 

[jIMOh]

The IRA/401k plans will require more forms than a taxable account.

 

[jazz4cash]

I have my accts. with Fido. I checked with them about a roth 401k but as of now they do not offer this. Hopefully in the near future they will have it available.

Are you self employed? Fido manages our 401k and we have a Roth option which I just started contributing to......extremely easy to do. If you are NOT self employed, the company has control of whether you have the Roth option.

 

[summer2007]

Thanks everyone

Jazz4cash if you mean Fidelity has a roth 401k I would set up with them if I could. I checked Fidelity and Vanguard (I called them) a while back and both said they did not have the roth 401k. So Maybe now Fidelity does! If so I might set up with them.

Jim

 

[jazz4cash]

Thanks everyone

Jazz4cash if you mean Fidelity has a roth 401k I would set up with them if I could. I checked Fidelity and Vanguard (I called them) a while back and both said they did not have the roth 401k. So Maybe now Fidelity does! If so I might set up with them.

Jim

My employer offers a roth 401k option through Fidelity and it is not new at all.............are you self employed? Maybe its only offered to institutional employers.

 

[summer2007]

Thanks Jazz4cash

I called and checked with fidelity on Monday and they do not offer a roth 401k for self employed people but they might next year.

Also I wanted to say that I'm glad I found this forum. I have learned a lot so far and I think the people on here are nice, helpful and smart.

Jim