4O1-K investment

[coffeeabhi]

2 hours ago, AFDB__REBEL said:

u cannot withdraw money, if u don so u have to pay penalty and even withdrawing is not that simple.
you need to show the proff why u want to withdraw and it has to fit their terms and conditions.

basically u get wt u put if u withdraw early

Withdrawing is not complex. If you pay the 10% penalty, they don't ask why you are withdrawing the money. But if you want to withdraw without penalty, then you have to show them that you are using it for some approved expenses like buying a home etc.

[coffeeabhi]

1 hour ago, user789 said:

mana desam velthe..apudu kuda withdrway cheyacho kada  before or after retirement ?

every yr kontha amount withdraw chesthe...antha taxes unadavu kada..even with 10% penalty, do we still save more than paying taxes and saving upfront?

Yeah, after going to india, every year 15k alaa withdraw cheskunte no taxes and you save on state taxes too. So effectively you lose 10%.
Adhe ikkada mundhe tax pay chesthe, you will by paying both federal and state taxes which is easily atleast 30% based on where you live.

[coffeeabhi]

49 minutes ago, Hector8 said:

oka doubt .... monna ma office lo edo stocks gurinchi matladuthunnaru 

401k stocks lo mandatory ga pettala .... edo stocks padipoyay mana money bokka .... ala ala matladaru

 

Money market funds ani untaayi where profits and losses are very minimal, like 0.01% plus or minus per year. You can move the money from mutual funds to those money market funds until you are comfortable investing.

[Kalam_Youtheman]

11 minutes ago, coffeeabhi said:

Withdrawing is not complex. If you pay the 10% penalty, they don't ask why you are withdrawing the money. But if you want to withdraw without penalty, then you have to show them that you are using it for some approved expenses like buying a home etc.

buying home ante penalty undaadhaa ?

[AFDB__REBEL]

8 minutes ago, Kalam_Youtheman said:

buying home ante penalty undaadhaa ?

i dont think u can withdraw full amount for house buying....only down payment

[user789]

49 minutes ago, coffeeabhi said:

Yeah, after going to india, every year 15k alaa withdraw cheskunte no taxes and you save on state taxes too. So effectively you lose 10%.
Adhe ikkada mundhe tax pay chesthe, you will by paying both federal and state taxes which is easily atleast 30% based on where you live.

i had the same understanding...

[masakali]

59 minutes ago, AFDB__REBEL said:

i dont think u can withdraw full amount for house buying....only down payment

they have a % basis on how much you can withdraw for home..... but it is like taking loan from your 401k, you pay back with interest, but interest will also be towards your 401k account only

[Spartan]

1 hour ago, AFDB__REBEL said:

i dont think u can withdraw full amount for house buying....only down payment

 

1 hour ago, Kalam_Youtheman said:

buying home ante penalty undaadhaa ?

50% of ur balance or 50K which ever is higher..

no penalty for first time home buyers..

 a amount ki u take as loan and pay back the interest to urself..

[Chakram12]

4 hours ago, user789 said:

Any cons in 4O1-K  investment ? People who are already investing suggestions ivandi...

@Spartan is the expert, go to man for 401K

[Spartan]

2 minutes ago, Chakram12 said:

@Spartan is the expert, go to man for 401K