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Type: Posts; User: FrankK
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Yes. 10 percent of the total. The size of the fund makes no difference. In addition, you will have to pay state and federal income tax on the funds you withdraw.
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Call your former company. They can put you in touch with the plan administrator if it isn't them.
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You'll pay a 10 percent penalty on any funds you remove from your 403b. You'll also have to pay state and federal income tax. Since you live in FL and don't pay state income tax, you would realize...
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Most financial advisors recommend that one save 10 to 20 percent of his or her income to achieve a comfortable retirement. Which end of that spectrum you land on has a lot to do with how long you...
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Sounds like a plan. I'm excited for you. One more thing though: as you continue to grow your investments, you might consider diversifying outside the energy sector. There are a lot of different...
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Only if the trading is done within a 401k or IRA. Otherwise, you'll have to realize the capital gain. But, given the fact that Obama has indicated that he plans to increase the cap gains rate back...
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The key part of the equation that you left out is how much money you have in savings. If you have $100,000 in debt and $900,000 in savings, then yeah I think you are on the right track. If you have...
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Unless your agreement indicates you have a prepayment penalty, you don't have one. The vast majority of mortgages do not have them. If you do, then I believe you are bound to it, but you should...
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There is no easy way that I know of. You would have to read through mutual fund prospectuses until you find one that offers it. You might try starting with Vanguard's Total Stock Market Index Fund....
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The acquired company's shares should convert to shares of the acquiring company. If it is a major company, it should be seemless. If it is a small company that is barely listed, you may need to...
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There isn't much difference. The benefits of the two types of plans are the same. The main difference is that 401ks have more requirements (i.e. an outside auditor) and, as such, have been...
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I had a similar problem. I got around it my opening a money market account that had a checking writing feature. If this won't work, you may have to go to a checking cashing place. I think Wal-Mart...
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I have been where you are. And it was not fun. Getting out of it involved a lot of work and sacrifice. But the other side is pretty nice. Now I am debt free. So there is hope.
I'm not sure...
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It sounds like you were sued and lost. Many times collection agencies, because they are run by stupid people, make errors. And sometimes, because they are run by stupid people, even mix up...
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You are very welcome. I would also add that now is a particularly bad time to cash out a 401k because stocks are down about 35 percent this past year. So you would likely be cashing out at, or...
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It's hard to answer this question without knowing your income. Additionally, it's hard to answer the question without knowing how much cash you have; I can only assume you have none.
As you...
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No, that's not the case. What Obama -- and others on Capital Hill -- have suggested is passing a provision as part of the next bail out bill that would waive the mandatory distribution requirement...
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"Retirement plan" is a general term that could refer to a specific investment vehicle such as a 401k. 401k is a specific investment vehicle sanctioned by the federal government that allows employers...
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I can't read your question well because of the typos, but I can tell you that insurace is never an "investment." Whole life insurance is sold as an investment, but provides lousy returns. The same...
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If you are very disciplined financially, I would sell the stocks and become debt free. For me, that's an easy decision. But what you do not want to do is cash out your savings (stocks in this case)...
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The first thing I would do with your money is nothing. Seriously. For at least six months I would just park it in a money market fund or a bank CD. You can do this at your local bank. Also, be...
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I agree with EBaines in so far as you should not cash out your 401k. The penalties are simply too high. In addition, the stock market is on sale right now, so you could very well be selling at the...
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I would recommend the Vanguard Total Stock Market Index Fund. This fund provides broad exposure to the entire US stock market - big, medium, and small companies. And it is a no load fund with very...
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