From the category archives:

401k Withdrawal

*Scared to open your 401K statement? *Don’t think you will ever recover from the losses? *Too many investment choices and don’t know how to evaluate? This ebook will help you open your statement, figure out your 401k contribution limits and gain confidence-knowing that your money is working for you- in your time frame, with your [...]

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Want a $500.00 credit card? Guaranteed Instant Approval. Bad credit accepted. Reports to a major credit bureau. Apply Today! Your 401k withdrawal options are limited to what is written in your Summary plan document. Not all 401K plans allow loans so it is best to check what you can and can’t do first before you [...]

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By Robert Powell, MarketWatch  It might not be the bank of first or last resort, but it’s a bank nonetheless. About one in four investors borrow money from their 401(k), but, while such loans have some benefits compared to other sources of credit, they also can hit your retirement savings in unexpected ways. About 22% of [...]

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Check your 401K plan summary plan description for 401K rules about taking a distribution while you are working.Your employer can tell you the 401k contribution limits, when you vest, and how much you can take out. Of course 401k rules only let you do this if you are past age 59.5 or the 401K penalties [...]

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Before you get all excited about the possibility of taking money out of your 401K without penalty, consider these facts: For a loan to not be treated as a taxable distribution it has to be repaid within 5 years and it can’t exceed the lesser of $50,000 or the greater of 1/2 of the nonforfeitable [...]

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Everyone talks about doing a rollover of your 401K plan assets into an IRA and the wonderful advantages of that. Why do so many people do rollovers— because the receiving firm WANTS YOUR MONEY. But there are some times when it is appropriate to just leave it with your ex-employer. Here are 4 criteria for [...]

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401K withdrawal

401k withdrawal

When it comes to 401K withdrawals- just say no! Step away from the 401K account and find money somewhere else. You will find that taking money out have severe penalties — not just the 10% that you hear about but also federal income taxes and state income taxes too (depending on the state that you [...]

Inherit a 401K? Great! Now How Will You Pay the Taxes??

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Only spouses have been able to avoid a large tax bill when they inherit a 401K. The new tax law now allows non-spouses (children and other family members) opportunities to avoid taxes on inherited 401K money. Typically the spouse is allowed to take the lump sum distribution from a 401K and roll it over to [...]

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