Comments on: Steps for setting up a 401(k) for your business http://smallbusiness.blogs.cnnmoney.cnn.com/2008/02/21/steps-for-setting-up-a-401k-for-your-business/ Editors from FSB magazine answer your pressing small-business questions. Tue, 15 Dec 2009 12:52:55 +0000 http://wordpress.com/ hourly 1 By: Stuart, Seattle, WA http://smallbusiness.blogs.cnnmoney.cnn.com/2008/02/21/steps-for-setting-up-a-401k-for-your-business/#comment-435 Stuart, Seattle, WA Fri, 22 Feb 2008 17:13:40 +0000 http://askfsb.wordpress.com/?p=184#comment-435 ShareBuilder 401k has 401k plan that was easy for us to setup and run. You can get it at pretty inexpensively throught Costco.com, just type in 401k into their search and you'll find it. We also learned that we could get a $500 tax credit for the first 3 years of our 401k plan since it was our company's first one. Good luck, Stuart ShareBuilder 401k has 401k plan that was easy for us to setup and run. You can get it at pretty inexpensively throught Costco.com, just type in 401k into their search and you'll find it. We also learned that we could get a $500 tax credit for the first 3 years of our 401k plan since it was our company's first one.

Good luck,
Stuart

]]> By: Chris Long Chicago, IL http://smallbusiness.blogs.cnnmoney.cnn.com/2008/02/21/steps-for-setting-up-a-401k-for-your-business/#comment-434 Chris Long Chicago, IL Thu, 21 Feb 2008 16:53:53 +0000 http://askfsb.wordpress.com/?p=184#comment-434 Hi Sammie, I am a Fee-Only CFP who has helped non-profits do this. Some quick advice: - If possible try to do an unbundled plan so you can select low-cost investment options from a company like Vanguard. In an unbundled plan you choose a independent plan administrator. You could then hire a Fee-Only(tm) registered investment advisor to help you make your investment selections for the plan. This will result in much lower fees in the long-term. - Keep your investment options simple. For most plan participants a large number of options is overwhelming and leads them to make poor choices. Stick to a few index funds and target retirement funds. - For more information see a recent NPR program on high 401k fees http://marketplace.publicradio.org/display/web/2008/02/06/401k_fees/ Also see my blog at www.longfinancialplanning.com/blog Hi Sammie,

I am a Fee-Only CFP who has helped non-profits do this. Some quick advice:
- If possible try to do an unbundled plan so you can select low-cost investment options from a company like Vanguard. In an unbundled plan you choose a independent plan administrator. You could then hire a Fee-Only(tm) registered investment advisor to help you make your investment selections for the plan. This will result in much lower fees in the long-term.
- Keep your investment options simple. For most plan participants a large number of options is overwhelming and leads them to make poor choices. Stick to a few index funds and target retirement funds.
- For more information see a recent NPR program on high 401k fees http://marketplace.publicradio.org/display/web/2008/02/06/401k_fees/
Also see my blog at http://www.longfinancialplanning.com/blog

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