spicyfish Posted May 16, 2017 Author Report Share Posted May 16, 2017 2 minutes ago, manchivaadu said: nee mokam manda asalu em telsu ra 401k guninchi neeku please man take it easy , tittukokandi ... you guys are giving new info to me, please share the knowledge, keep the flow flowing thanks Quote Link to comment Share on other sites More sharing options...
Quickgun_murugan Posted May 16, 2017 Report Share Posted May 16, 2017 4 minutes ago, manchivaadu said: nee mokam manda asalu em telsu ra 401k guninchi neeku u nasty nela ticket uncle... edo 401k nuvve deisgn chesinattu cheptunnav... neekem teluso cheppu TS ki first Quote Link to comment Share on other sites More sharing options...
manchivaadu Posted May 16, 2017 Report Share Posted May 16, 2017 Just now, Quickgun_murugan said: u nasty nela ticket uncle... edo 401k nuvve deisgn chesinattu cheptunnav... neekem teluso cheppu TS ki first u nasty kyathy pake pakodi pellow...chi po ra Quote Link to comment Share on other sites More sharing options...
chingchang Posted May 16, 2017 Report Share Posted May 16, 2017 9 minutes ago, Quickgun_murugan said: true... downpayment ki 12 k teesinappudu entha padindi bro tax.. one thing is below 10k ki 10% tax untadi.. 10k plus to 25k ki 15% tax untadi INCOME TAX.. was it less than those amount ?? TAX ?? Loan ki tax undadu bhayya .. its kind of taking loan from your own money .. they will give you 50% of your vested income as loan . lets say you have 30K in your 401K as vested balance, they will give you 15K. No tax. All the interest you pay will be added to your account back Quote Link to comment Share on other sites More sharing options...
chingchang Posted May 16, 2017 Report Share Posted May 16, 2017 13 minutes ago, spicyfish said: ee point artham kaledu Nee 401k lo unna amount pre tax money. That means you didnt pay tax for that money. Lets say you got 5K from your 401k as loan(its pre tax money), and you took loan for 5 years, you have to pay back 5000$/(5x12) + APR assuming you have 12 pay checks per year. nuvvu kattalsina amount nee after tax money nunchi cut autundi .. so techincally you are adding tax to your loan amount by paying back ardam kakapotey cheppu inko laa explain cheyyadaniki try chestha took me like a month to figure it out Quote Link to comment Share on other sites More sharing options...
Quickgun_murugan Posted May 16, 2017 Report Share Posted May 16, 2017 11 minutes ago, manchivaadu said: u nasty kyathy pake pakodi pellow...chi po ra kyathy meeda kopam unte nnaneduku antunnav uncle... neeku brain dobbindaa iyyala etla? Quote Link to comment Share on other sites More sharing options...
manchivaadu Posted May 16, 2017 Report Share Posted May 16, 2017 2 minutes ago, chingchang said: Nee 401k lo unna amount pre tax money. That means you didnt pay tax for that money. Lets say you got 5K from your 401k as loan(its pre tax money), and you took loan for 5 years, you have to pay back 5000$/(5x12) + APR assuming you have 12 pay checks per year. nuvvu kattalsina amount nee after tax money nunchi cut autundi .. so techincally you are adding tax to your loan amount by paying back ardam kakapotey cheppu inko laa explain cheyyadaniki try chestha took me like a month to figure it out its obvious that your loan repayment is from your after tax dollars, thats presumed and need not be mentioned as disadvantage. The main thing, saving your pre-tax amount into your 401k. straight away 30% profit. Quote Link to comment Share on other sites More sharing options...
Quickgun_murugan Posted May 16, 2017 Report Share Posted May 16, 2017 7 minutes ago, chingchang said: TAX ?? Loan ki tax undadu bhayya .. its kind of taking loan from your own money .. they will give you 50% of your vested income as loan . lets say you have 30K in your 401K as vested balance, they will give you 15K. No tax. All the interest you pay will be added to your account back interest entha untadi aa amount meeda? Quote Link to comment Share on other sites More sharing options...
manchivaadu Posted May 16, 2017 Report Share Posted May 16, 2017 Just now, Quickgun_murugan said: interest entha untadi aa amount meeda? it doesn't matter how much is the interest rate as you are paying for yourself. so stay calm and enjoy its benefits. inthaki illu ekkada kontunnav mister? Quote Link to comment Share on other sites More sharing options...
Quickgun_murugan Posted May 16, 2017 Report Share Posted May 16, 2017 1 minute ago, manchivaadu said: it doesn't matter how much is the interest rate as you are paying for yourself. so stay calm and enjoy its benefits. inthaki illu ekkada kontunnav mister? gotcha.. illu Colorado lo kontunna vuncle... Quote Link to comment Share on other sites More sharing options...
iddaritho Posted May 16, 2017 Report Share Posted May 16, 2017 Yeah try to max out on 401k Employer does core contribution and than match Max is 18k this year Good thing is you get employer contribution which will be around 15 to 16 thousand And also you will be not paying taxes on that money which will bring you down to different tax bracket Also you can use the money for down payment by taking loans Also some one said you pay interest after taxes Housing loan interest is tax deductible along with mortgage interest if it crosses 12k Quote Link to comment Share on other sites More sharing options...
Quickgun_murugan Posted May 16, 2017 Report Share Posted May 16, 2017 3 minutes ago, iddaritho said: Yeah try to max out on 401k Employer does core contribution and than match Max is 18k this year Good thing is you get employer contribution which will be around 15 to 16 thousand And also you will be not paying taxes on that money which will bring you down to different tax bracket Also you can use the money for down payment by taking loans Also some one said you pay interest after taxes Housing loan interest is tax deductible along with mortgage interest if it crosses 12k employer max 5 % chestadu maku.. I donno about others in DB Quote Link to comment Share on other sites More sharing options...
manchivaadu Posted May 16, 2017 Report Share Posted May 16, 2017 1 minute ago, Quickgun_murugan said: employer max 5 % chestadu maku.. I donno about others in DB which employer? are you FT ? does any one here have desi mesthri who is giving match for 401k contributions ? I think @Kyathy your company does right ? Quote Link to comment Share on other sites More sharing options...
Kyathy Posted May 16, 2017 Report Share Posted May 16, 2017 Just now, manchivaadu said: which employer? are you FT ? does any one here have desi mesthri who is giving match for 401k contributions ? I think @Kyathy your company does right ? TESLA does 6% match Quote Link to comment Share on other sites More sharing options...
MusuguVeiMazzaChei Posted May 16, 2017 Report Share Posted May 16, 2017 401k is for - when you want to save and forget and withdraw after 59 and Half years without any penalty.And this is ideal situation. If you plan to save now and want to retrieve in few years and then don't plan for this until unless you employer is matching. In Non-ideal situations , if you want to withdraw money ASsume you are making 100k and you withdraw 20k from your 401k then you will be charged taxes for 120k+ 10% penalty for withdrawing early from 401k . But in other cases like when you move to India and want to withdraw 20k and then you will be charged taxes for 20k (which you can claim back since you only make 20k for year)+10% penality. I think you can do this (with drawing while you are in INDIA ) for 2 years and after that any money you bring back to india will be taxed (Double taxation ) - Can someone verify on this.I remember reading somewhere but 100% sure. Quote Link to comment Share on other sites More sharing options...
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