401k balance

[Optimus654]

2.5 years 90k. Employer matches 100% on the first 5%. Also gives 2% extra every year. So 7%.

maxing is always better to avoid taxes and have a retirement nest.

Also , if plan permits, you can take loans from your 401k . You will be paying back to your own account but with interest. Prime rate +1% . Downside is you will lose any growth that money could have achieved . But let’s admit this year and next will be very volatile . So not a bad time to take loan .

 

[pahelwan]

0

10 years working

[Rushabhi]

47 minutes ago, Optimus654 said:

2.5 years 90k. Employer matches 100% on the first 5%. Also gives 2% extra every year. So 7%.

maxing is always better to avoid taxes and have a retirement nest.

Also , if plan permits, you can take loans from your 401k . You will be paying back to your own account but with interest. Prime rate +1% . Downside is you will lose any growth that money could have achieved . But let’s admit this year and next will be very volatile . So not a bad time to take loan .

 

Employer name please

[Run]

On 2/27/2018 at 5:54 PM, Spartan said:

for example.... u put 5K before tax, end of the year employer matches 4K(this varies by company to company)  to ur account.

now account value 9K which vanguard or fidelity like companies invest in shares bonds and funds and get returns added to ur account.

u take that money after 59.5 years age and pay regular tax.

if early withdrawl..u pay tax +10% penalty

  ikkkada  mana company and  vanguard  or fidelity  like companies  tie up untadha?  they control the money in our account and invest where ever they want? what if there is a loss in their investment  manak bokka na

[Spartan]

10 hours ago, Run said:

  ikkkada  mana company and  vanguard  or fidelity  like companies  tie up untadha?  they control the money in our account and invest where ever they want? what if there is a loss in their investment  manak bokka na

yes if u r fte companies usually tie up with fund management companies like vanguard, fidelity etc..

yeah vallu manage chestaru...loss aite bokke... 

[jays02]

When you guys are moving from company to company, how you are managing tax benefited savings? Keeping the old company accounts or move the amounts to bank IRA accounts or any other best option?

[Chakram12]

On 2/28/2018 at 2:54 PM, Chakram12 said:

60K 6% employee contribution 2.5years 

70K so far

[lingam.mama]

age 20s lo vunnappudu start chesthe 60 years ki multi millions avuthaai...

15% of salary ni regular gaa prathi pay check nundi 401k ki (roth option vunte roth ki) deposit cheyandi...

mee salary 85% anukoni brathakandi... yee vishayalu cheppe vaallu leka chaala mandhi ind ki pothe ela ani chetha doubts tho invest cheyaru... 

meeku correct gaa results telvaali ante 10 yrs continue gaa invest chesthe daani prathaapam telusthundhi

20s lo vunnaam manaki ippude retirement gurnichi alochana endhi ani chetha alochanalu theeseyandi...

401k nundi loans theesukokandi...unless inka chasthaam ante tappinchi

[Spartan]

12 minutes ago, lingam.mama said:

age 20s lo vunnappudu start chesthe 60 years ki multi millions avuthaai...

15% of salary ni regular gaa prathi pay check nundi 401k ki (roth option vunte roth ki) deposit cheyandi...

mee salary 85% anukoni brathakandi... yee vishayalu cheppe vaallu leka chaala mandhi ind ki pothe ela ani chetha doubts tho invest cheyaru... 

meeku correct gaa results telvaali ante 10 yrs continue gaa invest chesthe daani prathaapam telusthundhi

20s lo vunnaam manaki ippude retirement gurnichi alochana endhi ani chetha alochanalu theeseyandi...

401k nundi loans theesukokandi...unless inka chasthaam ante tappinchi

namaste uncle...how r u.

[lingam.mama]

16 minutes ago, Spartan said:

namaste uncle...how r u.

same mama.. how you doing

[Spartan]

11 hours ago, lingam.mama said:

same mama.. how you doing

im doing good. Bay area lo ne unnava

[phatposts]

13 hours ago, jays02 said:

When you guys are moving from company to company, how you are managing tax benefited savings? Keeping the old company accounts or move the amounts to bank IRA accounts or any other best option?

You will have couple of choices.

Leave the money with the previous provider (employer doesn't own your 401k holdings) and continue to be there. If the previous coompany's options are not great or you are not comfortable - you can merge it with the new company's 401k or you can roll it into an IRA. 

IRA is your personal account and the biggest difference is you can invest in a wide variety of options compared to 401K

401K doesn't allow you to invest in private investments and the fee is based on fund management costs aka expense ratio.

IRA opens a bunch of options including your ability to invest in some real estate funds (that is just an example)

You will never ever lose control over your money and it is not tied to your employer. 

[jays02]

11 minutes ago, phatposts said:

You will have couple of choices.

Leave the money with the previous provider (employer doesn't own your 401k holdings) and continue to be there. If the previous coompany's options are not great or you are not comfortable - you can merge it with the new company's 401k or you can roll it into an IRA. 

IRA is your personal account and the biggest difference is you can invest in a wide variety of options compared to 401K

401K doesn't allow you to invest in private investments and the fee is based on fund management costs aka expense ratio.

IRA opens a bunch of options including your ability to invest in some real estate funds (that is just an example)

You will never ever lose control over your money and it is not tied to your employer. 

Great! Info. Thank you so much.

[Chakram12]

12 hours ago, Spartan said:

namaste uncle...how r u.

U uncle, not looking for full time. happy with consulting 

[Spartan]

42 minutes ago, Chakram12 said:

U uncle, not looking for full time. happy with consulting 

i joined FT.