thanks Posted March 10, 2021 Report Share Posted March 10, 2021 Roth ira meeda kuda tesukovacha? Same process? Quote Link to comment Share on other sites More sharing options...
hotmaddy Posted March 10, 2021 Report Share Posted March 10, 2021 1 hour ago, Jumper said: Loan A 20k undi at 6.9% 401K nunchi 20K tiskuni Loan A ki kattesthe then interest amount kuda manu undi pothadi. so we can save from being charged high interest and low interest ki 401k loan tiskunte ah low interest kuda 401k loki add avuthadi. only thing is ah money market lo undadu. correct me experts Market lo money undaka povatam valla disadvantage enti?? Quote Link to comment Share on other sites More sharing options...
HugoStrange Posted March 10, 2021 Report Share Posted March 10, 2021 43 minutes ago, hotmaddy said: Market lo money undaka povatam valla disadvantage enti?? market lo unte market tho pati peruguthundi Also remember loan origination fee is 200 or 300 Quote Link to comment Share on other sites More sharing options...
Jumper Posted March 10, 2021 Report Share Posted March 10, 2021 19 hours ago, hotmaddy said: Market lo money undaka povatam valla disadvantage enti?? market lo ah money levu ante market ups or downs manaki effect undadu so no profit Quote Link to comment Share on other sites More sharing options...
Peter123 Posted March 10, 2021 Report Share Posted March 10, 2021 limit on loan depends on how much is your 401 balance, the more balance obviously the more loan. For 50k balance you can expect loan of 25k around at the rate of 5% around. Interest will be added to your account. And only one loan at a time is possible. Quote Link to comment Share on other sites More sharing options...
chingchang Posted March 10, 2021 Report Share Posted March 10, 2021 22 hours ago, Jumper said: Loan A 20k undi at 6.9% 401K nunchi 20K tiskuni Loan A ki kattesthe then interest amount kuda manu undi pothadi. so we can save from being charged high interest and low interest ki 401k loan tiskunte ah low interest kuda 401k loki add avuthadi. only thing is ah money market lo undadu. correct me experts Correct ... 1 Quote Link to comment Share on other sites More sharing options...
chingchang Posted March 10, 2021 Report Share Posted March 10, 2021 24 minutes ago, Peter123 said: limit on loan depends on how much is your 401 balance, the more balance obviously the more loan. For 50k balance you can expect loan of 25k around at the rate of 5% around. Interest will be added to your account. And only one loan at a time is possible. They call it Vested balance .. Lets say you invested 10k and your employer contributed 6k, your total balance is 16k. You can only get 50% of your vested balance .. in this case, 5K Quote Link to comment Share on other sites More sharing options...
Peter123 Posted March 10, 2021 Report Share Posted March 10, 2021 6 minutes ago, chingchang said: They call it Vested balance .. Lets say you invested 10k and your employer contributed 6k, your total balance is 16k. You can only get 50% of your vested balance .. in this case, 5K yes, obviously you get the loan on your vested balance as that's what you get when you leave the company Quote Link to comment Share on other sites More sharing options...
ElIen Posted March 10, 2021 Report Share Posted March 10, 2021 22 hours ago, LadiesTailor said: Call your 401k provider or login to their website... it takes two to five minutes Provide step by step instructions, not half knowledge answer Quote Link to comment Share on other sites More sharing options...
hotmaddy Posted March 10, 2021 Report Share Posted March 10, 2021 1 hour ago, Peter123 said: yes, obviously you get the loan on your vested balance as that's what you get when you leave the company Ante company matching chesina amount Assam aa when we leave the company? Quote Link to comment Share on other sites More sharing options...
CH_Desi Posted March 11, 2021 Report Share Posted March 11, 2021 It's a trade off, if you current market return rate for the 401k is greater than the interest rate by a lot you will be losing the additional return. Quote Link to comment Share on other sites More sharing options...
Peter123 Posted March 11, 2021 Report Share Posted March 11, 2021 3 hours ago, hotmaddy said: Ante company matching chesina amount Assam aa when we leave the company? you can leave it at your employer, if he's fine with it (most employers would be fine, if you have min of 5k), or if he doesnt have to pay any maintainence for your account then he can keep it even if its less than 5k, maree 1k or 2k ante kastam emo for your employer, normally everyone sould have good 401k by this time around 50K min, or you can transfer to your new employer 401k account or you can roll over to IRA (individual account), or if you want to withdraw you can, but you need to pay serious tax and penalty. Quote Link to comment Share on other sites More sharing options...
hotmaddy Posted March 11, 2021 Report Share Posted March 11, 2021 1 minute ago, Peter123 said: you can leave it at your employer, if he's fine with it (most employers would be fine, if you have min of 5k), or if he doesnt have to pay any maintainence for your account then he can keep it even if its less than 5k, maree 1k or 2k ante kastam emo for your employer, normally everyone sould have good 401k by this time around 50K min, or you can transfer to your new employer 401k account or you can roll over to IRA (individual account), or if you want to withdraw you can, but you need to pay serious tax and penalty. Ya I know I can transfer to new employer baa. But would I lose any amount that the current employer contributed when I leave my current job is my question. Quote Link to comment Share on other sites More sharing options...
SRK_SRK Posted March 11, 2021 Report Share Posted March 11, 2021 You can take loan upto 50% of your 401k balance and max 50K in a 12month period. Loan interest 4 to 6 % and that interest amount you pay goes into your 401K. Loan period - you can chose upto 5 years. when you take loan they will sell the corresponding 401K fund shares and give you money and they will buy shares as you pay. This is the best time to take 401K loan as stock market is high. Quote Link to comment Share on other sites More sharing options...
Peter123 Posted March 11, 2021 Report Share Posted March 11, 2021 25 minutes ago, hotmaddy said: Ya I know I can transfer to new employer baa. But would I lose any amount that the current employer contributed when I leave my current job is my question. no baa, if he's okay you can keep with him, most employers are totally fine with it. Quote Link to comment Share on other sites More sharing options...
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