hotmaddy Posted February 23, 2021 Report Share Posted February 23, 2021 Whenever I change jobs I have a new 401K investment company account. I have Fidelity, Benefit Wallet, Vanguard. Is there a place I can learn more about the 401K, IRA etc? Can I move all of them to one account? Is there a benefit moving them all to one account? How can I use those funds to take a personal loan or invest in stocks? Is it cheaper doing this way? TIA. Quote Link to comment Share on other sites More sharing options...
csrcsr Posted February 23, 2021 Report Share Posted February 23, 2021 Just now, hotmaddy said: Whenever I change jobs I have a new 401K investment company account. I have Fidelity, Benefit Wallet, Vanguard. Is there a place I can learn more about the 401K, IRA etc? Can I move all of them to one account? Is there a benefit moving them all to one account? How can I use those funds to take a personal loan or invest in stocks? Is it cheaper doing this way? TIA. You can always roll over to one account bro Single place lo untayi 50% yiu can take loan any time that interest is way cheaper and you will be paying for your account but remember one thing that money will be out of market , so technically it's same , year ki 5k Roth Ira lo petochu and yiu can buy yiur own stocks Quote Link to comment Share on other sites More sharing options...
hotmaddy Posted February 23, 2021 Author Report Share Posted February 23, 2021 1 minute ago, csrcsr said: You can always roll over to one account bro Single place lo untayi 50% yiu can take loan any time that interest is way cheaper and you will be paying for your account but remember one thing that money will be out of market , so technically it's same , year ki 5k Roth Ira lo petochu and yiu can buy yiur own stocks Thanks baa. 1. Stocks lo invest cheyyali ante Roth IRA account loki 401K funds transfer chesukovala? 2. Is there any penalty for rolling over funds to one account? Like 3% Balance Transfer? 3. I recently refinanced my home. Did I do mistake by going with a bank and not taking loan against 401K? Quote Link to comment Share on other sites More sharing options...
csrcsr Posted February 23, 2021 Report Share Posted February 23, 2021 2 minutes ago, hotmaddy said: Thanks baa. 1. Stocks lo invest cheyyali ante Roth IRA account loki 401K funds transfer chesukovala? 2. Is there any penalty for rolling over funds to one account? Like 3% Balance Transfer? 3. I recently refinanced my home. Did I do mistake by going with a bank and not taking loan against 401K? 1) Roth Ira is investment account 5500 per year limit untadi tax free in addition to 401k contributions 2) no penalty (subject to correction) 3) no no mistake you can take 50% anytime niku a growth vachi untadi kada nee account lo I suggest keep them for rainy day repu eoduaina urgent avasaram ubte you can take that 50% loan anybtime Quote Link to comment Share on other sites More sharing options...
hotmaddy Posted February 23, 2021 Author Report Share Posted February 23, 2021 1 minute ago, csrcsr said: 1) Roth Ira is investment account 5500 per year limit untadi tax free in addition to 401k contributions 2) no penalty (subject to correction) 3) no no mistake you can take 50% anytime niku a growth vachi untadi kada nee account lo I suggest keep them for rainy day repu eoduaina urgent avasaram ubte you can take that 50% loan anybtime Thanks for the lead baa. I will dig info based on this. Quote Link to comment Share on other sites More sharing options...
KrishnaDevaRaya Posted February 23, 2021 Report Share Posted February 23, 2021 ltt Quote Link to comment Share on other sites More sharing options...
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