Can we invest 401k funds on a particular stock? I have seen quite some instances here where peoples 401k have skyrocketed. My 401k is with Fidelity.
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They say it’s for your own good.
I got scammed like this. The only way to change it is to leave the company, rollover your own 401k into a new 401k that is - and here’s the correct wording - self directed. A self directed 401k account allows you to invest in whatever the fuck you want to.
After more than a decade at my first employer I had amassed a non trivial amount of money in my 401k. I left that employer and went elsewhere. Since then it’s been about 4 years and I have doubled my portfolio by investing in shot that I know about. Namely technology. I did it by buying long call options (or short puts) in tech companies that I use and knew about just because I’m in tech. Like Netflix. Like apple. Like Microsoft when they got a new ceo and stopped being asshats.
If you are in tech you should know that Apple google msft are literally printing money. If you don’t know this then this investing method is not for you. If you can not stomach losing 10s of thousands on a bad trade this method is not for you. If you can’t trade from your phone and watch the market every day then this is not for you. If you don’t know what call/put options are then learn. If you can’t learn this is not for you.
If you lose all your money cause you took my advice to self trade your account then you are dumb af and this post is not for you, also I take no responsibility.
@duqvv7x It’s a scam in the sense that they tell you what you can and can not do with your money.
Oh well. ¯\_( ˘͡ ˘̯)_/¯
#WorstScamEver
I’ve participated in writing 2 plans and I excluded this because 1. retirement money is not supposed to be gambling month & (especially) 2. It cost the plan more money
Cheers
Edit: Fidelity is just they custodian. They follow whatever the plan tells them
Fidelity is a CUSTODIAN and must implement rules designed by the PLAN ADMINISTRATOR.
These rules are NOT universal.
Nobody expects to die a car crash. Several do everyday.