401K Question

[Dippam]

Maa employer match cheyyadu amount ni
Ayina kooda register avvali ani fix ayya

Question
1. Already Roth ira undi. Can I maintain both Roth ira n 401k?
2. What happens if I decide to go back to India? Should I wait until 55years to withdraw the 401k amount with out any penalty? Emanna options der aa munde with draw chesukodaniki

[SeemaLekka]

Help

[perugu_annam]

bayya..

 

you might be knowing this already but if you withdraw before 55 years it will be 10% penalty.

 

[Dippam]

Yup

Anduke asking any other options der aa ani

Money lock ayipote kastam kada ani
Malli loss ante Inka kastam
Asale vachedi Em Ledu Ikkada

bayya..

you might be knowing this already but if you withdraw before 55 years it will be 10% penalty.

[Dippam]

Ltt

[ipaddress0]

help dippam  :police:

[Spartan]

Roth IRA ne pettuko....its after tax kada..so neek penalty padadu..

[Thingarodu]

Maa employer match cheyyadu amount ni
Ayina kooda register avvali ani fix ayya

Question
1. Already Roth ira undi. Can I maintain both Roth ira n 401k?
2. What happens if I decide to go back to India? Should I wait until 55years to withdraw the 401k amount with out any penalty? Emanna options der aa munde with draw chesukodaniki

1. Yes, you can maintain both Roth ira and 401k account.

2. If you does not want to pay any penalty you have to wait until 55 years of age to withdraw amount from 401K. But you can take loan upto 50% of the vested amount in your account. If your employer is not matching you at all, then it is not a good idea to contribute to 401k.

 

[Dippam]

Thanks man

1. Yes, you can maintain both Roth ira and 401k account.
2. If you does not want to pay any penalty you have to wait until 55 years of age to withdraw amount from 401K. But you can take loan upto 50% of the vested amount in your account. If your employer is not matching you at all, then it is not a good idea to contribute to 401k.