Don’t dump your $ into 401k or Ira for now- If your employer doesnt match 401k

[Akkumm_Bakkumm]

10 hours ago, Android_Halwa said:

Thumb rule : it’s crisis and times of uncertainty. IRA or 401k are silly and stupid. Instead, save all your cash. 

CASH is king in times of uncertainty. No one take away your cash. Keep all your cash with in easy reach and accessible methods. 

401k and IRA doesn’t make any sense or the returns on it or atleast, it’s not worth. 

Don’t mislead people with your not well researched  thesis. 401k and IRA are the best savings when employer matches certain portion of your contribution.

[Vaampire]

8 minutes ago, Akkumm_Bakkumm said:

Don’t mislead people with your not well researched  thesis. 401k and IRA are the best savings when employer matches certain portion of your contribution.

+1

okkapudu 401k waste ani invest cheyyaley. I repent fot that now

 

[Neutral]

401k is supposed to be an amount u r saving for retirement...even if u r sent back to India ur 401k a/c will be active until u reach the right age when u can withdraw as needed without penality and taxes....so dumb to think it is waste as the returns will be high if u invest those money on right stockes in u r 401k a/c....also 401kis usually available for fulltime employees with gud employer who have always gud chance to survive here so dont spread -ve thoughts into others minds...get a life 

[Peddayana]

Not having 401k when Employer is matching is like leaving free money on the table 

even if you have other alternatives to save money , it will be a nice nest egg

[mettastar]

Inthaki db em decide chesindi

[hunkyfunky]

2 hours ago, phatposts said:

Why do you have to pay taxes in India?

You pay penalty but if you cash out in limited amounts per year you do not pay the full bracket. 

Yield wise if you ave better roi definitely go do it. But yearly tax brackets jump avtoo kooda 401 cheyyaka pote every year tax vaayinchukuntavu. Inka employer matching undi kooda 401k contribute cheyyani konni aanimuthyalu naaku telusu. 

Cash is King only if you invest properly. 

Exactly...

I know a family who moved to India for good. He has multiple 401k accounts, and needed some money in India for EMIs . He started taking the money out of one account, about 30k per year and had to pay only penalty. No tax here and in India ( he managed a way to get that money to India)

[Lukewalker]

Lol, what else? How not to save for retirement ani title maarchu

[Aryaa]

13 hours ago, iTeachSAP said:

30% tax + penalty + tax in india

Why would you pay tax in India. If it’s already taxed here. 

 

Its not correct 

[Semper_Fi]

@TS

Please stick to teaching SAP. 

[Akkumm_Bakkumm]

3 hours ago, Vaampire said:

+1

okkapudu 401k waste ani invest cheyyaley. I repent fot that now

 

Ade kada neenu 12k vontribute chesthe employer match and gains kalipi 40k indi eppudu. Even recession vachina manaki annual ga 1-2% returns vastayi and the returns are compounding. Oka 5 years 8-10% returns vachi 1-2 years slow unna kuda first 5 years lo vachina compounded amount kuda loss kamu. 

[Vaampire]

12 minutes ago, Akkumm_Bakkumm said:

Ade kada neenu 12k vontribute chesthe employer match and gains kalipi 40k indi eppudu. Even recession vachina manaki annual ga 1-2% returns vastayi and the returns are compounding. Oka 5 years 8-10% returns vachi 1-2 years slow unna kuda first 5 years lo vachina compounded amount kuda loss kamu. 

Nenu pay check lo 40% petta 401k. First few months loney 401k max out ayindi. Also employer match kooda done. 

 

[Quickgun_murugan]

14 hours ago, iTeachSAP said:

If you loose status, you can still take your money from India.however a flat 30% tax applies to your money along with penalties.Also, you have to pay tax in India. Tadisi mopedu Avuthundhi...

 

 

dani badulu tax kuda kattakunda no. of allowances maximum petti entha paisal osthey anni teeskoni .. india 1ogeyyatam better

[Spartan]

dude..dont post crap without knowing about that....

401K is best means of saving when employer mathcing is there..... @iTeachSAP 

30% flat +penalty all is trash..

 

india vellipote..nuvvu 401k money withdraw cheste..ur tax bracket will be for ur income which is only 401k withdrawl...

and no matter what when employer contributes..its free money always..

[Staysafebro]

I am into contracting and don’t have employer match. How can I save? Don’t say get full time because my take home in contracting is 120k per year. No company will pay that for my location or job. 

[iTeachSAP]

Doesn’t applicable if employer matches