Vaampire Posted October 21, 2017 Report Share Posted October 21, 2017 49 minutes ago, mastercheif said: $150 ikkada imagination ke parimitham ayepoyindi Move to bayarea... $150k avge salary Quote Link to comment Share on other sites More sharing options...
Avenger Posted October 21, 2017 Report Share Posted October 21, 2017 On 10/20/2017 at 2:21 PM, Simple123 said: Quote Link to comment Share on other sites More sharing options...
Chakram12 Posted October 21, 2017 Report Share Posted October 21, 2017 nenu 13K company 9K(company will match max 9K if employee contribute minimum 9K) so total 22K Quote Link to comment Share on other sites More sharing options...
tony12345 Posted October 21, 2017 Report Share Posted October 21, 2017 nenu 8% emp 4% Quote Link to comment Share on other sites More sharing options...
Chakram12 Posted October 21, 2017 Report Share Posted October 21, 2017 8 minutes ago, Avenger said: Aasl 401k ela work avthado cheppochu ga.. google chesna ardam kale just like india provident fund (PF) here its 401K you can save for ur retirement. IRS will decide how much max one can contirbute, 18K in general. based on employer, some employers match 1%, 2% , 3% of ur contribution etc. company will decide how much they contribute, some companies won't contribute it all depends on company. ex: my company will match 6% as long as employee contributes 6% or more. lets say I contribute 9K, company will contribute 9K. if I contribute less than 9K, the company will match that like if I do 7K, the company do 7K on the other hand, even I do max 18K, company will do only 9K. IRS will not tax amount contributed for 401K amount right now.(you will pay tax for the contributed amount when u take out, ideally when u retired at 60years) if you want to take out ur money before u retire then u have to pay 10% as fine and tax. what will company do with this money? the company will have options to invest in different mutual funds, bonds, and stocks etc. once you leave the company, u can invest in any mutual funds or stocks until then only what company offers. advantages: u can take loan from ur 401K account. good thing is what ever interest you pay will again goes back to ur account. interest normally 5% per year etc. you can even take loan for home buying also. there is lot more it. this is good enough to get started Quote Link to comment Share on other sites More sharing options...
speedracer Posted October 21, 2017 Report Share Posted October 21, 2017 GC medha hope vuntey 401k penchuko, lekapothey minimum maintain cheyi Quote Link to comment Share on other sites More sharing options...
chaikumar Posted October 21, 2017 Report Share Posted October 21, 2017 51 minutes ago, Chakram12 said: just like india provident fund (PF) here its 401K you can save for ur retirement. IRS will decide how much max one can contirbute, 18K in general. based on employer, some employers match 1%, 2% , 3% of ur contribution etc. company will decide how much they contribute, some companies won't contribute it all depends on company. ex: my company will match 6% as long as employee contributes 6% or more. lets say I contribute 9K, company will contribute 9K. if I contribute less than 9K, the company will match that like if I do 7K, the company do 7K on the other hand, even I do max 18K, company will do only 9K. IRS will not tax amount contributed for 401K amount right now.(you will pay tax for the contributed amount when u take out, ideally when u retired at 60years) if you want to take out ur money before u retire then u have to pay 10% as fine and tax. what will company do with this money? the company will have options to invest in different mutual funds, bonds, and stocks etc. once you leave the company, u can invest in any mutual funds or stocks until then only what company offers. advantages: u can take loan from ur 401K account. good thing is what ever interest you pay will again goes back to ur account. interest normally 5% per year etc. you can even take loan for home buying also. there is lot more it. this is good enough to get started Good info bro. More details: 401k lo two types - 1. Pre-tax (just regular 401k) 2. Post-tax (also called Roth) Pre-tax ante you dont pay tax now, whatever your contribution is, it directly goes to your 401k account Eg: Monthly Salary is $10,000 Monthly 401k contribution is $1000 Assume Income tax percentage = 30% Assume company match is 50% Employer sends your $1000 to your 401k account, then his match amount $500 to your 401k account, then deducts taxes etc on $9000 and deposits the remaining amount in your bank account. Roth ante you pay the taxes now and the remaining amount is put in your 401k account. Eg: Monthly Salary is $10,000 Monthly ROTH contribution is $1000 But this contribution is after-tax. $1000 after-tax is equivalent to $1500 before taxes assuming 33% tax percentage. So, the employer sends your $1000 to 401k, his match $500 to 401k, then deducts taxes etc on $8500 and deposits the remaining in your bank account. Pre-tax 401k ni withdraw cheyyalante 10% penalty. Roth ni withdraw cheyyalante no penalty since you already paid taxes. Note: Withdrawals are allowed only after quitting the company. Pre-tax 401k mutual funds etc lo invest chesthe vache profit meedha withdrawal appudu Capital Gains / Long term Gains kattaali. Roth paina profit ki no taxes. Quote Link to comment Share on other sites More sharing options...
Avenger Posted October 21, 2017 Report Share Posted October 21, 2017 . Quote Link to comment Share on other sites More sharing options...
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