A 401(k) account is a tax-deferred retirement savings account setup by many employers for their employees in the United States. Employees can elect to contribute part of their earnings - either pre-tax or after-tax - to their 401k account and the employer will often make a matching contribution for ...

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82 views

Best way to maximize current income from stock market as a low income person

Due to some health problems it is quite difficult for me to work full time. I get my income from odd jobs and on-line surveys. I was wondering what the best way to maximize some of that income. ...
2
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1answer
218 views

30-year-old saved $30,000: what should I do with it?

I'm a 30-year-old living in NYC with a decent job, not married / no kids. I've now saved $30K and it's just sitting in a savings account, earning next to nothing. I have never invested in the stock ...
3
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1answer
35 views

Administrator vs Broker vs Custodian for a Solo 401(k)?

I'm planning to open a Solo 401(k) with Schwab. There are some provisions that are decided by the Plan Administrator, which I assumed would be me (my business, technically). However, doing research, ...
5
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4answers
154 views

Should I scale down my 401k?

Today I met with my 401k provider at work. They tend to push certain plans and a schedule that is as follows: Aggressive Fund (100% stocks, 0% bonds) Moderate Fund (50% stocks, 50% bonds) ...
3
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1answer
560 views

Is this 401k statement odd or is it normal?

I'm trying to help someone compare benefits for two different companies. However, we have both interpreted the 401k match statement in the benefits summary differently for one of the companies. ...
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3answers
324 views

Is there any drawback in putting all my 401K into a money market fund?

As you may know, the stock market drops like crazy, I did sense that a couple weeks ago and transferred some of my fund to money market - well, at least to keep it as dollar value... However, I am ...
1
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1answer
35 views

Is it possible to add money to an existing rolled over IRA when I have a 401(k) from work?

I contribute about 12% of my income to 401(k) which comes to about 15000 a year or so. My employer doesn't match anything due to nature of the contract. I have been investing in 401(k) since 2012. ...
3
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3answers
192 views

What are my options if my previous employer does not transfer my 401(k)?

I recently (1yr ago) changed jobs and my previous employer has not transferred my 401(k) contributions. I have sent them several emails regarding this. Their typical response is that they are working ...
10
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1answer
2k views

401(k) forfeited and check issued. What can I do to avoid penalty?

Recently, I checked the website of the last 401(k) plan that I contributed. I found that the account was "forfeited", which I assume it means that it was closed due to not being an employee of the ...
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2answers
185 views

How does the “Rule of 55” work for avoiding early withdrawal penalties?

I didn't find this anywhere, but this is something not many people know.
3
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2answers
79 views

401k hardship withdrawal

I have a small 401k account from an employer I left a year ago. I would like to close the account and cash it out to simplify my financial profile as well as use the money for some home improvements. ...
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1answer
73 views

How much will I get from an early withdrawal from a 401k and Roth 401k with employee contributions after taxes and penalties?

I am planning to buy a house and want to maximize my cash available. In my 401k account, I have a distribution like this: (x+x1 gains)+(y+y1 gains)+(z+z1 gains) where x: 401k, y: roth 401k, z: ...
3
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2answers
92 views

Are tax-free investments still tax free when taking distributions?

If you read the 'Power of Zero', he talks about putting tax free investments into your traditional IRA. That way, you won't incur any taxes when you take distributions. Maybe I misunderstood what he ...
4
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1answer
63 views

Clarification on 2015 IRA Rollover Limits

I've run into an issue in my personal finance journey that many people now struggle with: having a collection of 401k and 403b accounts left over from previous employers, some of which have been ...
5
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1answer
72 views

Can assets be transferred from an existing employer 401k to an Individual 401k?

I've been considering opening an Individual 401k account with Vanguard. I chose this, opposed to a SEP IRA, because of the higher contribution limits and the dual contribution options (as employee and ...
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3answers
6k views

Want to retire at 55, but 401(k) starts paying at 59.5 years old

Right now, I am on my late 20's, and I have this plan on retiring at 55 years old, instead of the usual retirement age of 62. For this, I plan to save money enough to cover my expenses from the day of ...
3
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1answer
44 views

Can I deduct IRA contribution even though job offers a 401k which I don't contribute to?

My job offers a 401k, but I don't contribute to it (because it doesn't have a match). Instead, I would rather contribute to an IRA where I can control what I invest in exactly. Here's what the IRS ...
4
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1answer
136 views

Over-payment by ex-employer into 401k

I left my old employer on 3/10/2014, however, I left my 401k there. Today I received an email indicating that they over-paid into my account $500 and that i need to identify which funds I want to ...
2
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1answer
60 views

Clarification on maintaining 401 K Account with Ex-Employer? [duplicate]

A year ago, I changed my job and holding new 401K with my current Employer. I have not transferred my previous 401 K account to my new Employer. I still maintain my existing 401 K account with my ...
1
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1answer
52 views

Pre- & post-tax calculations for comparing contribution amounts for traditional 401k vs. Roth IRA?

I currently have a rollover IRA which I no longer contribute to and a 401k which I currently contribute to. I would like a Roth account to be more diversified from a tax perspective. I currently put ...
3
votes
1answer
41 views

401k Transfer After Business Closure

I worked at a company for 4 years; they had my 401k set up through paychex. My paychecks started bouncing and soon the business was closed (it was part of a franchise and individually owned). A few ...
14
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1answer
2k views

Is an employer within their rights to limit 401k contributions to 25% of compensation?

I would like to ask a specific question regarding employer limitations on 401k contributions. I have read other posts in the forum that explain that limitations often exist on highly compensated ...
6
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1answer
121 views

What happens when my 401K beneficiary is not my child, nor spouse?

I'm single and no child. My 401K beneficiary is my nephew. Should I pass away and he "inherits" my 401K, what will happen to it? How much will he be taxed for it? Is there a way to avoid any ...
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1answer
100 views

I received half of my ex-husband's 401k in 2014, paid penalty fee, no income in 2014, should i file federal income tax for 2014?

I got divorced in 2013,I got half of my ex_husband's 401k.The early withdrawal penalty was determined and prepaid by the settlement amount. no income for the year 2014, should i still file federal ...
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2answers
432 views

What penalties exist when moving from a Roth IRA into 401K?

The move from investing in a Roth IRA to having an employer-provided 401K is the only move that I can find information on. For the past fifteen years or so I've managed a Roth IRA for myself (and for ...
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1answer
118 views

Should I cash out retirement accounts to pay off student loan debt?

I have an opportunity to cash out my retirement. I have a student loan owing approx $180,000 for medical education. This loan acquires interest daily and I have been unable to get from under this ...
2
votes
1answer
698 views

401k unwanted auto enrollement

I haven't asked for this and my employer 'auto-enrolled' me to 401k. I called Fidelity to take me off but they didn't do it which make me angry. Today I got their Ad email saying Keep in mind ...
5
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2answers
237 views

If I'm eligible to max a Roth IRA, Do I ever considering putting money in both IRA types instead?

Age 28 (Turn 29 in November) Gross Income - 110,050 Retirement (At the start of 2015) - $12,000 in Roth IRA My current contribution for the year is aimed at: 9,000 in Roth 401k 9,000 in ...
2
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5answers
327 views

Are Roth 401(k) after-tax contributions at a disadvantage for maximizing employer match money?

I feel like there is a negative to Roth 401(k)s that I haven't seen mentioned anywhere after doing some major research. Assuming the employer match amount is a percentage of the after-tax amount that ...
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3answers
232 views

New 401(k) account, barely funded: can I withdraw penalty-free?

I established a new 401(k) account with my previous employer. I made a total of $600 in contributions ($100 x 6). I don't want to keep this 401(k). First, 401(k) is not my preferred investment ...
3
votes
2answers
740 views

Why shouldn't I consider a 401k loan to myself within my bond allocation?

I have seen broad advice against 401k loans. I question this. Why shouldn't I consider a 401k loan to myself within my bond allocation? Assuming I have trust in my employment cash flow and taxable ...
2
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3answers
321 views

Can I cash out my 401k every year (company match > withdrawal penalty)? [duplicate]

My company offers a 401k 50% match up to 6% of salary, but I'm restricted to picking one of a set of investment portfolios. My thinking is, could I max out the 6% every year, get the full 50% match, ...
3
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2answers
61 views

In a retirement account, is there any reason to purchase deferred annuities now instead of near retirement?

There are lots of sources online that talk about how if you are saving your retirement money within a tax-sheltered account (401k, 403b, etc), you are likely better off with mutual fund investments ...
4
votes
3answers
182 views

What are the down sides of maxing out the 401k?

Please advise me whether I understand this correctly: The benefits of maxing out the 401k: Your contributions are tax-deductible, so it lowers your income during tax filling As your money grows ...
4
votes
2answers
116 views

Capital gains tax: Retirement vehicle (IRA, 401k) vs. anything else?

I've had this question for a little while and I asked a professional about it today, but I don't think I worded it well. As such, I didn't get a good answer. Theoretically, given an equivalent amount ...
3
votes
1answer
106 views

Is 401k considered a retirement plan offered by an employer?

I am trying to brush up on traditional IRA offerings out there. Specifically, I want to know whether the IRA contribution is tax deductible. The rules state that I can deduct the full contribution ...
4
votes
1answer
274 views

How much total salary to allocate to defer $17,500 to 401(k)?

From my small business, I would like to contribute to my wife's retirement (which also reduces taxable income to the company). My question is about how much total salary should be allocated to her to ...
3
votes
1answer
91 views

How to decide for 401(k): Make Roth post-tax contributions, or traditional pre-tax contributions?

My company's plan will let me put funds into the 401k plan either pretax (traditional, with taxes taken at withdrawal) or Roth-style (post -tax nut no tax at withdrawal) or both. Any company match ...
1
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1answer
121 views

401k contributions explanation

I have a basic question on 401k investment. Below is what my company is matching: XYZCompany will match your contributions, up to 4% of your eligible compensation, to a maximum of $10,600. Now ...
4
votes
3answers
234 views

Advantage of Traditional 401k over Roth

I am trying to understand the differences and benefits of putting money in Traditional 401k over Roth 401k. If I have to still pay tax while withdrawing money from my Traditional (pre tax) 401K after ...
2
votes
2answers
373 views

Ray Dalio - All Weather Portfolio

I am in a difficult situation right now where I need some expert advice. I recently finished reading Tony Robbin's Money Master the Game book and he talks about Ray Dalio All Weather Portfolio ...
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1answer
84 views

401K or Indian CD

I am debating on contributing to 401k(which is being invested fully) va putting a sum (say $10k) in Indian CD. I am assuming investment in stocks would return about 6-8% where as Indian CD would ...
3
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2answers
338 views

Does a 401(k) contribution harm your Debt-to-Income ratio for a mortgage application?

If I contribute to a 401(k) at work, and thus have a lower W-2 income box 1 (Wages, tips, other compensation), will this hurt my debt-to-income (DTI) ratio on a mortgage application? I wouldn't think ...
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1answer
61 views

Contribute Federal and State withholdings to company 401k instead?

So I am attempting to devise a way to max my company retirement account. They offer 3% of my annual pay if I put in at least 6% of my annual pay. The problem is that I don't want to take a giant ...
3
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1answer
80 views

Multi-year delayed 401k payout check cash, which was originally a rollover into a new plan

Here's the chain of events, not all of which I was aware of before this week: In 2010, I started working for a company and diverting money into a 401k In 2012, the company was purchased, and I ...
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2answers
135 views

Maximize my 401K and IRA, or save more for home downpayment?

I graduated a year and a half ago, and for the past year I have been maximizing my 401K and Roth IRA contributions. I further save for a house downpayment. Due to a recent surge in house prices, I ...
6
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1answer
165 views

Do overall 401(k) contribution limits sum across employers?

Assume I have a day job that has a 401(k) with no matching and I am also self-employed. I'm considering structuring my side business as an S corp and setting up a solo 401(k) in addition to the 401(k) ...
0
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3answers
112 views

Should I contribute to my 401k with a high expense ratio and no matching?

This is similar to this question (I can't comment yet so that's why I'm making this new question. The OP didn't mention anything about not having matching etc..): Still invest in 401K with a high ...
0
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1answer
153 views

Are 401K loan repayments considered tax deductible?

I took out a 401k loan 1.5 years back for a home down payment. The loan had a 36 month term, and I was making payments thro' payroll deductions from my employer. I recently quit that job, and I am ...
2
votes
1answer
230 views

Would you liquidate your 401k to pay off debt in this situation?

I have a potentially complex situation that I am looking to resolve in the least painful way possible. I am going through a divorce. My income is nearly twice as much as my ex's, and I am going to ...