401k Max out entha mandhi

[Pavanonline]

10 minutes ago, Kalam_Youtheman said:

scam ante 1970 lo FED govt suddent ga flat tax 30% vesindhii. for 401k with drawals and retirement time lo despite of any income levels.... it happened only once to save their a**... so now ala emaina avthe enti mana paristhithi ani

also retirement age inrease chesaaro anuko like in UK.. appudu adhoka problem

also covid laaaga mana retirement time ki vasthe porfolio padipothundhii...

market ups and downs untaayee but mana time vachesaariki ela untundho ani anthe bro

yeah uncertainty is everywhere. there nothing called a sure shot investment.

401k is just an additional way of saving and investing and not an alternative.  

[Kalam_Youtheman]

1 minute ago, Pavanonline said:

yeah uncertainty is everywhere. there nothing called a sure shot investment.

401k is just an additional way of saving and investing and not an alternative.  

agree bro.. Im maxing out

[Konebhar6]

2 hours ago, Kalam_Youtheman said:

Bhayyo every year I contribute to 401k.. company 3% match so just contributing 3% but end of year I owe taxes.. maa tax consultant emo max out chesko 23k limit atleast koncham anna save chesko ani but naaa uddesham lo ee 401k oka scam anipisthundhii.... 3 % free money kadha ani enrolled ... but moving forward is it a good idea to max out and take the tax advantage benefits...futture lo edho oka confidence untudhii aa 401k money choosthunte...entho kontha saved kadha ani

 

Yes I am maxing out. Over a period of time, you get used to the money that you get in hand and only spend with in means. And the 401k keeps growing. After a few years you will appreciate your decision to do so. 

However, it does not mean you completely shun your lifestyle and live miserably to save for future. 

Bottomline, look at your salary, expenses and see how much you want to save for future. If your Tax advisor is advising you to max out, its a good advice. It means you have means to save more.

[Pandubabu]

2 hours ago, Kalam_Youtheman said:

Bhayyo every year I contribute to 401k.. company 3% match so just contributing 3% but end of year I owe taxes.. maa tax consultant emo max out chesko 23k limit atleast koncham anna save chesko ani but naaa uddesham lo ee 401k oka scam anipisthundhii.... 3 % free money kadha ani enrolled ... but moving forward is it a good idea to max out and take the tax advantage benefits...futture lo edho oka confidence untudhii aa 401k money choosthunte...entho kontha saved kadha ani

 

maxing out from 2 years , no knowledge before 

[jobkastalu]

Maxing out

[LungiLingaraju]

Almost max out .. 

[LadiesTailor]

4 hours ago, Kalam_Youtheman said:

Bhayyo every year I contribute to 401k.. company 3% match so just contributing 3% but end of year I owe taxes.. maa tax consultant emo max out chesko 23k limit atleast koncham anna save chesko ani but naaa uddesham lo ee 401k oka scam anipisthundhii.... 3 % free money kadha ani enrolled ... but moving forward is it a good idea to max out and take the tax advantage benefits...futture lo edho oka confidence untudhii aa 401k money choosthunte...entho kontha saved kadha ani

 

Max out yeah 

[Tellugodu]

4 hours ago, hunkyfunky2 said:

If you are young, max out and be aggressive in portfolio... you will reap benefits later.

Worst mistake I did in my life not doing this

Until what age is young anna to go aggressive? I kept all in aggressive equity fund. Maxing out 401k with 50% match up to IRS limit. 

[Satrajith]

what happens if we move permanently to india? for this 401 &Roth IRAs?

[hunkyfunky2]

9 minutes ago, Tellugodu said:

Until what age is young anna to go aggressive? I kept all in aggressive equity fund. Maxing out 401k with 50% match up to IRS limit. 

. convention says till 45 or 50... but that's for Americans who live till 80s...

It also depends on market and your needs, after rapid growth period and once you met 60 % of your retirement target , slowly go conservative to protect your growth.

 

 

[Konebhar6]

41 minutes ago, Tellugodu said:

Until what age is young anna to go aggressive? I kept all in aggressive equity fund. Maxing out 401k with 50% match up to IRS limit. 

50 is the limit until when you can be aggressive. You can push it to 55 but not beyond it. This is for people who want to retire in US. 

If you are planning to move to India or have other plans, stop being aggressive 3-4 yrs before and move to bonds/less aggressive funds. 

[Konebhar6]

37 minutes ago, Satrajith said:

what happens if we move permanently to india? for this 401 &Roth IRAs?

If you move to India and are below retirement age, you can start taking smaller amounts out of it every year where you pay negligible tax plus there is a 10% early withdrawal penalty which should be OK considering the gains you have. 

If you move to india and get to retirement age, you can withdraw amounts, pay tax without penalty. 

[rmJU72]

I max out every year. In recent 4 years I maxed out after tax as well.

[hunkyfunky2]

4 hours ago, Konebhar6 said:

If you move to India and are below retirement age, you can start taking smaller amounts out of it every year where you pay negligible tax plus there is a 10% early withdrawal penalty which should be OK considering the gains you have. 

If you move to india and get to retirement age, you can withdraw amounts, pay tax without penalty. 

even if you pay 10% penalty, it likely much lower than tax you'd have paid. But 10% is on the entire amount, including gains. 

 

[Satrajith]

4 hours ago, Konebhar6 said:

If you move to India and are below retirement age, you can start taking smaller amounts out of it every year where you pay negligible tax plus there is a 10% early withdrawal penalty which should be OK considering the gains you have. 

If you move to india and get to retirement age, you can withdraw amounts, pay tax without penalty. 

ante.. can I leave 401K and Roth IRA here with Fidelity and move to India? retirement age vachaaka can I withdraw automatically? naku elagoo.. kadilinche aalochana ledu. let it grow and take when retirement age? and retirement age ante mee uddesam 60 Years kada.. as per IRS