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 ...
7
votes
2answers
583 views
401k decisions when living overseas
I have $95000 in a 401k and am now 58 years old - the money was paid in when I lived in US but I left a few years ago and now live and work outside US - I am not a citizen of US - what is the best way ...
3
votes
2answers
89 views
Is a pre-tax 401K, containing only treasury bonds, tax free on release?
In time-deferred pre-tax funds, such as 401K and IRAs, I understand that the contributions and capital gains tax is not paid until after they are released. In this case upon retirement/a certain age ...
6
votes
2answers
646 views
How do I track 401k rollovers in Quicken?
I recently rolled over an old 401k to an existing Rollover IRA I have. I'm not sure how to enter this into Quicken though. I tried a few ways with the following results:
Sell the stock in the 401k ...
7
votes
4answers
114 views
Can I set up a second 401(k) at my LLC?
I have a 401(k) at work. I also have an LLC. Can I start a second 401(k) and contribute an additional $16,500?
5
votes
1answer
716 views
My company is changing 401k plan providers, can I rollover to an IRA during the transition?
My question is similar to this one, but slightly different:
Can I roll over a 401k with my current employer into an IRA?
According to that question above, it's not possible for somebody my age (28) ...
14
votes
6answers
834 views
401k Contribution When Employer Has No Match?
Hey everyone! Long time lurker, first time asker here. I've seen some similar questions to mine here, but nothing exactly in the same circumstance.
I've seen almost near-consensus that the ordering ...
9
votes
5answers
2k views
Ideal net worth by age X? Need comparison references
Is there a website resource that gives suggestions for how much savings or net worth I should have at any given age, based on my education level and salary?
I'm in my 30s, have no debt, and have been ...
17
votes
5answers
558 views
How much should I be contributing to my 401k given my employer's contribution?
I realize that this is similar to at least one question here, however, there are some differentiators.
I can contribute a max of 5% of my net salary to the 401k fund. The employer matches 50% of ...
9
votes
2answers
81 views
Can I roll over 401(k) contributions that were made prematurely (by mistake)?
The company I work for told me yesterday that they need to refund my 2010 401K contributions because they recently discovered during an audit that they enrolled me into their plan prematurely since I ...
5
votes
4answers
3k views
Is Pension Benefit Information (aboutmyletter.com) legitimate?
I received a letter in the mail from a company called Pension Benefit Information saying that they had been engaged by my former employer to confirm my current mailing address because I have a balance ...
8
votes
1answer
455 views
Options for a Simple IRA when leaving a job: Leave as is or roll it over?
I currently have a Roth IRA that I max out every year. My current company had Simple IRA and contributed 2% of my salary and I contributed 6000 a year. Now I am leaving the company and was hired by ...
8
votes
2answers
133 views
Moving money between Roth IRA and employer's 401(k)
Back when I was self-employed, I started a Roth IRA and have regularly deposited in it since then. However, my current employer offers matching contributions to their 401(k) plan, and with the ...
18
votes
2answers
196 views
Do traditional and Roth 401k have the same annual contribution limit?
According to everything I can find, the annual contribution limit for both traditional and Roth 401k is the same ($16500 in 2010).
Since the Roth is post-tax, doesn't that mean I can save more for ...
5
votes
4answers
404 views
Should we draw down a previous employer's 401k or roll it into something else?
My husband has a 401k from his previous job which is worth about $13,000. He wants to take it out and use it. His new job has a 401k option that he has not looked into yet. I was wondering if we did ...
3
votes
3answers
105 views
How to handle old 401(k) I have, with respect to refinancing some of my debts?
I have recently been shopping around to see if I could get my home refinanced. I purchased in Oct 2007 for $200,000 - 30 year fixed at 5.99%
I called my lender, and they were willing to refinance @ 4 ...
5
votes
3answers
409 views
Should I take a loan on my 401k to repay student loans?
I have a student loan that has 6.5% interest (highest rate of many) and would be able to repay it if I took a loan on my 401k. I know the basic trade-off is that my money may do better in the 401k ...
4
votes
2answers
76 views
Can Roth conversion taxes be reduced by moving rollover IRA back to 401k?
I have two traditional IRAs:
a rollover from a past 401k, with no basis (all pretax contributions)
an IRA with only after-tax contributions, with high basis
If I do a Roth conversion, as far as I ...
4
votes
4answers
198 views
Why are typical 401(k) plan fund choices so awful?
I don't expect a huge number of funds to choose from in a 401k plan, but all the plans I've ever seen are loaded with funds that have outrageously high management expense ratios (MERs) and they ...
6
votes
3answers
1k views
How does a 401k being tax-deferred benefit me? If there was not an employer match, should I just go with a traditional IRA?
I have maxed out my 401K for the past 6 years or so, always hearing how it is advantaged. I have done researched and convinced myself it was true, but I was always under the impression that earnings ...
5
votes
1answer
509 views
Can excess 401K contributions returned with 1099-R be rolled over to a Traditional IRA?
I received a check in March 2011 along with a 2011 1099-R for excess 401K contribution made in Tax year 2010. I am a high-compensated employee, the excess was due to company 401k matching which was ...
5
votes
4answers
220 views
Advice on where to put money once I've hit the income limits on Roth IRA?
For the past few years I have been contributing to my company-sponsored 401k just enough to get all of their match, and contributing up-to-the-limit in a Roth IRA.
I've now reached the income limits ...
3
votes
1answer
160 views
Should I cash out or rollover 401(k) securities?
I recently changed employment and have securities in my former employer's 401(k) plan.
The cash component of the 401(k) I am rolling over into an SEP-IRA.
What I need advice on is whether I should ...
5
votes
3answers
5k views
Employer doesn't offer a 401(k). Where can I invest pre-tax dollars?
My employer doesn't offer a 401k and it doesn't look like they will anytime soon. I already have a maxed out Roth IRA, so I would really like to do something with pre-tax dollars before I push my ...
4
votes
3answers
314 views
Should I take money out of an old 401(k) to put a down payment on a house?
My wife doesn't work anymore and she has a 401(k) of about $80,000 from an old job. I have been kicking around the idea of taking that money out or rolling into an IRA so that I can have better ...
3
votes
1answer
849 views
Are FICA taxes applied before or after contributions to a pre tax 401k?
When I make contributions to my employer's pre-tax 401k account, are FICA taxes applied before or after making the contributions?
6
votes
2answers
574 views
401k Rollover - on my own or through my financial advisor?
I recently changed jobs and have a sizable sum in my old employer's 401k plan. It's doing fine but there are quite a few fees and I would prefer to roll it over. I'm considering two options.
First, ...
3
votes
2answers
98 views
What are your experiences with 'self directed' 401ks?
Some background:
have no plans to leave current company anytime soon, so (short of borrowing against my 401k balance to invest outside the 401k) I can't get the funds out
want to max out my 401k ...
4
votes
2answers
282 views
Rolled over husband's 401(k) to IRA after his death. Can I deduct a loss since?
When I rolled over my husband's 401(k) into an IRA after his death, the beginning balance was 100,000.00 and now the balance is around 10,000.00
If I sell the IRA, can I deduct the loss on my taxes?
4
votes
1answer
662 views
Foreign national currently working in U.S. & investing in 401(k) plan: How will taxes apply?
I am a foreign national currently working in USA. I am considering contributing around 5K to a 401K plan (with no employer match). I intend to return to my country in a few years (when I am in my ...
2
votes
3answers
770 views
Using bonus in a tax-efficient way with my 401k account? [duplicate]
Possible Duplicate:
My bonus is taxed at a higher rate than my regular paychecks, so should I contribute 100% of my bonus to 401k?
Is there any tax advantage that I can gain if I invest my ...
1
vote
1answer
241 views
Are there important differences between a 401k and 403b plan? [duplicate]
Possible Duplicate:
How are 401(k), 403(b), and 457(b) tax-advantaged retirement plans different? How are they alike?
I work for a non profit and as such my retirement plan is a 403(b) ...
5
votes
4answers
281 views
Should a $150K mortgage @ 6% be paid off with $150K withdrawn from a 401K at retirement?
Should a $150K, 30 year mortgage @ 6% be paid off with $150K withdrawn from a 401K account at retirement?
4
votes
4answers
293 views
How do I determine how much money to put into pre-tax and post-tax retirement accounts?
Is there a good rule of thumb for determining how much money to put into each type of account? I'm not at a point where I can max both my 401k, my ROTH IRA, and my wife's ROTH IRA, so I'd like to know ...
5
votes
2answers
326 views
401(k) administration fees vs Rollover IRA fees?
I'm evaluating rolling over my old 401(k) into a self-administered IRA. I know the general costs and benefits (mostly benefits, in terms of increased flexibility, as stated here), but I'd like to see ...
6
votes
2answers
169 views
Best way to fund solo 401k account in cash crunch?
I'm Self-employed in the US. 2010 was a good year, and I am facing a big income tax bill. Will owe $18-20k in April. I can reduce that significantly if I max out my solo 401k at $45k. Haven't made any ...
7
votes
2answers
881 views
What is most time-efficient way to track portfolio asset allocation?
I've recently decided I wanted to track my investments over time so that I could accurately determine really cool financial things like:
My actual asset allocation
My actual rate of return over time
...
12
votes
4answers
859 views
Is it better to use a 401k loan to make a down payment or to put less than 20% down?
I'm about to buy a house and am considering two options:
Make a 12% down payment and pay for mortgage insurance
Take out a 401k loan and make a 20% down payment
I'm having a hard time finding ...
8
votes
3answers
1k views
What is the difference between a Rollover IRA and a Roth IRA?
Previous Question.
I have decided to roll my 401(k) into a Roth IRA. I use ThinkOrSwim as my broker currently, so I plan on opening an IRA with them. When opening the account I'm presented with the ...
8
votes
1answer
437 views
Should I rollover my 401(k) into a Roth IRA in 2010, or wait until 2011?
After asking my previous question and reading about the different options available, I'm looking at rolling it over to a Roth IRA to avoid paying the taxes at retirement. Is it better to do this in ...
4
votes
1answer
162 views
Are 401k and IRAs protected the same way during bankruptcy?
I've heard that IRAs offer a better protection during bankruptcy but i can't find any information about it.
14
votes
3answers
457 views
Quit my job: What can/should I do with funds in previous employer's 401(k) plan?
I recently changed jobs, and my previous employer offered a 401k. I know I can roll that money into an IRA. Before I do anything, I would like to understand what options I have, and which option is ...
2
votes
2answers
119 views
Rules and tax impact of rolling over my work 401(k) to a self-employed 401(k)?
Title pretty much says it all. I am trying to do some work on the side and I wanted to put my current job's 401k money (which 95% of it was rolled over from a previous 401k) into my on 401k that I ...
4
votes
1answer
318 views
What is the difference between 401(k) accounts in the U.S. and RRSPs in Canada?
What are the major differences between the two?
11
votes
2answers
326 views
Do Roth IRA contribution limits apply to Rollover IRAs?
My wife has already maxed out a Roth IRA for 2010. She just quit her job, and has a 401k from her former employer. Would I be able to roll it into a new Roth IRA even though she has already ...
3
votes
1answer
196 views
Switched jobs & short on cash. Should I withdraw from 403(b) or borrow from 401(k)?
I switched employers a while back and obviously this resulted in a new place to throw my retirement money. Employer A was an academic institution so that money was in a 403(b), now I'm in your ...
4
votes
4answers
237 views
What happens to a tax deferred retirement account when you reach retirement age?
There always seem to be tons of articles about maximizing the amount money in your 401ks and your IRAs, but there doesn't seem to be much talk about what happens to those accounts when you get to ...
16
votes
9answers
748 views
Any experience with maxing out 401(k)?
I'm 23 right now, and I'm currently contributing about 6% of my salary to a 401(k) with an employer that matches 20% of my contribution up to 6%. Based on various calculators, continuing at this rate ...
6
votes
2answers
1k views
Comparing IRA vs 401K's rate-of-return with dollar cost averaging
I have both an IRA in Vanguard and an old employer's 401k with Fidelity management. I would like to compare the performance between the two accounts over time, in order to determine if I should ...
4
votes
1answer
1k views
How to calculated mandatory withdrawals for 401k? (Required Minimum Distribution)
I understand that 401ks have a mandatory withdrawal that can be triggered at some point.
What triggers a 401k mandatory withdrawal and how is the amount of the withdrawal calculated?
10
votes
3answers
1k views
Confusion about Roth 401K: Better for me to do pre-tax or Roth post-tax contributions?
My company offers a 401K and a Roth 401K. Given the income level of my family (married filing jointly status), IRAs aren't really an option. We're past the Roth IRA limits and get no deduction for a ...
