401K outside of Employer

[MutaMestri]

Hello DB Gurus,

 

Can we have the 401K outside of employer ?  My employer doesnt have any 401K enrolled.

 

is there a way can we contribute outside ?

[LadiesTailor]

Yes you can have a 401k account and max out yearly contribution (18k I guess)... check with fidelity or some other investing firms 

[MutaMestri]

@LadiesTailorThanks Bhayya

Do Bank of America do as well ?

[BossIzzWell]

10 minutes ago, MutaMestri said:

Hello DB Gurus,

 

Can we have the 401K outside of employer ?  My employer doesnt have any 401K enrolled.

 

is there a way can we contribute outside ?

why do you want to have a 401K without employer contribution?

Instead, i'd recommend going for roth or traditional IRA

[LadiesTailor]

They should have... call chesi adugu

[babu_bangaram]

7 minutes ago, BossIzzWell said:

why do you want to have a 401K without employer contribution?

Instead, i'd recommend going for roth or traditional IRA

pre tax $$ and Post tax $$ guru ........ that is the difference .......between 401K and Roth

[BossIzzWell]

3 minutes ago, babu_bangaram said:

pre tax $$ and Post tax $$ guru ........ that is the difference .......between 401K and Roth

anduke traditional IRA kuda cheppa

why would you contribute to 401k with no employer match, instead of traditional IRA? other than income and max per year limit?

[MutaMestri]

@BossIzzWellHonestly naku no idea on 401K , ROTH , IRA

All i know is , IRA lo only 5,500 max we can do, But 401K lo 18K

nenu desi consulting bhayya , vadu elago match cheyyadu

[Merabharathmahan]

ippudunna H1 Visa issues meeda ilanti vatilo assalu sign up avvoddu. Avi madyalo withdraw india ki elli chesukovalante chala hassles untay. GC vachedaka US lo elanti vatilo sign up avvaku

[BaLion]

27 minutes ago, Merabharathmahan said:

ippudunna H1 Visa issues meeda ilanti vatilo assalu sign up avvoddu. Avi madyalo withdraw india ki elli chesukovalante chala hassles untay. GC vachedaka US lo elanti vatilo sign up avvaku

Doesn't matter bro.. You will end up paying early withdrawal penalty (tax is inevitable). Otherwise, leave it in IRA for long term

[alooparata]

5 hours ago, MutaMestri said:

Hello DB Gurus,

 

Can we have the 401K outside of employer ?  My employer doesnt have any 401K enrolled.

 

is there a way can we contribute outside ?

pls sponsor me for EB5