401-K, 457 plans
By angelap41
@angelap41 (113)
United States
March 15, 2007 9:28am CST
My husband is in the process of signing up for a 401-K but he was also given to option to sign up for a 457. Does anyone have any experience with a 401-K or 457? Any advice would be appreciated. What precentage would you put in high risk and low risk?? Thanks
1 response
@bjone6 (348)
• United States
15 Mar 07
That means he works in a government type job right? A 457 is a non-qualified retirement plan that acts likes a qualified plan. These are not that good. A 401 (k) is definetly a better option because if he gets fired, seperates, or retires he can roll that 401 (k) into an IRA. He can't do that with the 457 plan.
Depeneding on how old are and how you feel about risk will depend on the percentage of high risk and low risk. If you are young then you should be in high risk if you are old, you should be low risk
1 person likes this
@angelap41 (113)
• United States
15 Mar 07
Thanks for the help. So exactly what does a non-qualified retirement plan mean.
