I am 57. I make about 150,000. I max out my 401k contributions. I have no debt except for a mortgage. I plan to work till 65. I am putting $600 a month in savings (low interest rate) in addition to 401k. Should I be putting any of it in a traditional IRA? I make too much for a Roth. What should I be doing with additional $600/month that I want to put away.
Posts Tagged ‘after’
taking $ from our fund (401k rollover after spouse retired) is treated as taxable income. Any way to prevent?
09
Jun
We have to borrow from “ourselves” this way in order to fund a biz and other expenses. But it is treated as income which puts us in a very, very high bracket.
I think if we take some and save it in a ROTH ira (or other) we save but hubby says it doesn’t help and we would spend more.
Any ideas?
Can you redeposit into an IRA/401k after making a withdrawl?
25
May
My girlfriend withdrew money from her retirement account for a downpayment on a house, however the house deal fell through and she had to find a place and was forced in to renting. She says she is not allowed to redeposit the money and will be taxed and penalized heavily. is this true. She did a withdrawl, not a loan against. What can she do to avoid the taxes.
If I rollover my 401k to an ira after leaving my employer is there any way to borrow against it?
22
May
How long after I quit a job do I have to do something with my 401k?
20
May
I am leaving my current job and new job does not have a 401k, I have it through fidelity, I know I can roll into IRA and some other options but how long do I have to decide after I leave the company?
What happens with money in 401k, IRA and RothIRA when the person dies (either before or after retirement age)?
17
May
Can the family members get it/inherit it? If yes, do they have to get it in monthly payments for years and years until all funds are withdrawn?
Can I withdraw contributions from a Roth 401K after rolling it over to a Roth IRA?
14
May
Just a hypothetical question – if someone has a Roth IRA account that has been open for a 5+ years, and also a Roth 401K account, and they decide to retire before 59 1/2, could they rollover that Roth 401K acct into the Roth IRA and access the contributed amount?
For example, if I had contributed $5K to a Roth 401K which had grown to $10K, could I roll the account to a Roth IRA and withdraw the original $5K contribution tax and penalty-free before 59 1/2?
Thanks!
Is it better for me to start an IRA now or wait until after college and use my jobs 401k plan?
12
May
I’m 21 and about to get out of the Marines and start college. Do people usually open an IRA and enroll in there companies 401k plan?
Can i convert a 401k directly to a Roth IRA? After, how much can i withdraw from Roth Tax free?
08
May
I’m thinking of moving 16,000 from 401k to a Roth IRA. I realize I will have to pay $4000 in taxes (in cash–to avoid 10% penalty) to do so.
Do I need to covert to traditional IRA and THEN to a Roth. If so, is there a length of time it has to be in the Tradional IRA before converting.
And, finally…what i really want to know. How much of the 16,000 converted can i withdraw from the Roth without penalties? I know you can withdraw up to your contibutions in a “regular” Roth, but what is considered my “contributions” in this case?
BASICALLY — can i turn 16,000 from my 401k into 16,000 in Roth IRA money and turn it into everyday cash to use?
I would like to take some money of out my 401k, but I don’t want to do a loan.
MORE ABOUT ME:
I am only 25 years old and have around 28k in my 401k from former employer. Believe it or not, im opposite of most peopel and have been saving too much for retirement and need some to live on!
Is an excess Roth IRA contribution taxable when withdrawing it after the tax filing deadline with extension?
08
May
I contributed $6000 to a Roth IRA in 2006, which caused an excess of $2000. It is now after the tax-filing deadline with extension. I know that there is a 6% excise tax penalty already. My question is: Are there any taxes if I withdraw the $2000? And would the early distribution penalty 10% apply since I am under 59 1/2?
Can a judge reach a retirement plan (401k) after a divorce is final when both parties waived interest?
08
May
My ex-spouse under an MSA in California waived our respective interest in the others 401k plan. Can my ex-spouse tried to tap into my plan years after the divorce finalized?
Can I move my 401K money into Roth IRA after I got laid off from my company ?
06
May
I’m 57 year old and have 1 Million Dollars in my 401K with my current company. My job will be terminated at the end of this year 2008. Can I move money out of my company 401K account into a new Roth IRA account with a Discount Brokerage Firm ? If I can do that, what is the tax consequences ?
If I short sell in CA, will the lender go after my ROTH IRA and 401K?
05
May
I am trying to short sell my house, the lender is Wells Fargo. Does anyone have any experience dealing with a short sale? I have a 401k and ROTH IRA in my name, will the lender go after these if I do short sell, to recover some of their loss? What investments are safe, which are not?
I moved back to Canada after working in the USA for 9+ years; What will happen to 401K and Roth IRA accounts?
03
May
I am ~40 years old and do not need to withdraw money from the US 401K and Roth IRA accounts till I am 65. I am NOT a US green card (permenent resident) or US citizen. I do not plan to return to the USA (at least not in near future). Do I need to transfer the accounts to Canadian financial institutes, is possible and how?.
What do I do with my 401K money after I have resigned from the company providing it ? Is there a time limit ?
25
Apr
I recently resigned from a job I’ve had 15+ years, do I have to move my money from the 401 Plan into some other account ?