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Herbert N Glass Level 18
This should be a fairly easy process to have your 401(k) plan account balance transferred to either an IRA account, or to another Qualified Plan account, that has been setup for you. There are two primary things you should do so that the transfer is done ...(more)
2 votes
Hello, The most effective way to achieve a true benchmark comparison is to ask your advisor to provide a full analysis of their fees as well as the fees levied by your provider. If your advisor is not doing this every few years they should be as they ...(more)
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Herbert N Glass Level 18
It is a difficult matter to find information regarding a plan that was sponsored by a company that is no longer in business. However, if you did have a balance of more than $5000 when the plan terminated and they were not able to find you when they were ...(more)
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You can convert that money into a Roth IRA, but you will have to pay tax on any growth that has occurred since then. I would suggest doing that as soon as possible. I can halp you with the Roth and conversion for no cost. Let me know.
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Edin Cuskovic Level 9
You can purchase a database such as the Fee Benchmarker by fi360/Ann Schleck (I recommend you don't), or call service providers around town to get quotes. You can also find other plans of that size and call them and ask what they are paying.
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Edin Cuskovic Level 9
R5 shares have a lower expense ratio than R4 shares. Therefore, they will have better performance.
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Wow. That's a lot of loan debt to handle. Now, you are telling me that you are doing standard repayment on a consolidated loan that you took out 8 years ago. Standard repayment on most student loans is 10 years - so you would be almost done with payback. ...(more)
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Avani Desai Level 1
Is this plan through your company? If yes, they will be able to provide more information and guide you with investing. Most retirement plans generally have a restricted group of funds you can choose to invest in.
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You should contact the company that has the 401k and ask go speak to someone in HR, they should be able to help you. Justin
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Edin Cuskovic Level 9
Call or email the HR person and ask for a distribution form.
1 vote
Edin Cuskovic Level 9
Couple of things - your wife's 401k plan document has to allow for "one time" contributions. This would be in the administrative guide of the plan document, not something companies readily share with employees. Usually this provision is allowed and ...(more)
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While I don't know your specific situation, in general I don't favor raiding retirement funds to pay off your house. You generally won't be able to replace those funds, and the tax that must be paid beyond the mortgage payoff is so significant as to substantially ...(more)
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If you pull the money out you will have to pay a 10% penalty tax plus you will have to pay income tax on the withdrawal. Only do this if you absolutely need the money. I would roll it over into an IRA, then possibly convert to a Roth IRA either this ...(more)
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Jose Manuel Soto Level 17
Proper asset allocation is Key. It's possible it is being achieved via that target date fund but unlikely. Having a fee based CFP help you with asset allocation is a very good idea.
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Jose Manuel Soto Level 17
Best thing you can do for your 401k is either roll it over to an IRA or roll it into your new employers 401k. You will be hit with a large penalty if you withdraw your 401k money if you are under a certain age (Mid 50's) depending on the situation!
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