How much do you contribute to your 401k?

[Super Cubs 132]

As you go through your working years, you slowly begin to pull your investments from high growth or high risk investments and put them in more stable investments that way a big fluctuation doesn't kill you.

 

You are also supposed to be diversified between as many markets as possible, along with placing your money in international funds.

is there a way to transfer the funds with out having to pay a penality?

[Patriotsfatboy1 1,432]

why not they changed it so basically everyone can contribute

 

Can You Contribute to a Roth IRA?

Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than:

 

$160,000 for married filing jointly or qualifying widow(er),

 

$10,000 for married filing separately and you lived with your spouse at any time during the year, and

 

$110,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year.

 

[Toro 1]

is there a way to transfer the funds with out having to pay a penality?

 

There are options.

 

For example, in my 401k, there is a fund called Vanguard Retirement Savings Trust that earns a little over 4% and is VERY low risk.

 

You can also pull your money from your 401k, rollover to a Traditional IRA, then put it in some municipal bond fund or something. From what I understand, you can even just keep it as cash.

 

You have to keep it in the retirement account until 59.5 (I think) to not have a penalty.

[Cdub100 3,418]

How many people are doing the Roth 401k and are you happy with it?

 

I'm doing one it's whatever, fine I guess. I pet everything in the 2040 fidelity fund.

 

I'm doing a roth because when I retire I will be in a higher tax braket

[Toro 1]

I'm doing one it's whatever, fine I guess. I pet everything in the 2040 fidelity fund.

 

I'm doing a roth because when I retire I will be in a higher tax braket

 

My company hasn't offered it yet.

[Cdub100 3,418]

My company hasn't offered it yet.

 

You can open it yourself. I have a 401K too which my company matches half up to 8%

[Toro 1]

You can open it yourself. I have a 401K too which my company matches half up to 8%

 

I have a Roth IRA. I was talking about Roth 401k.

 

http://www.roth401k.com

[swirvenirvin 25]

Can You Contribute to a Roth IRA?

Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than:

 

$160,000 for married filing jointly or qualifying widow(er),

 

$10,000 for married filing separately and you lived with your spouse at any time during the year, and

 

$110,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year.

 

 

 

They just changed all of that, or they are going to change it I thought?

[mobb_deep 919]

I contribute 15% but I waited until I was almost 30 to start one so I need to catch up.

 

If I would of started when I was 20 and only contributed 6% I'd be where I am right now.

[edjr 5,611]

There are options.

 

For example, in my 401k, there is a fund called Vanguard Retirement Savings Trust that earns a little over 4% and is VERY low risk.

 

You can also pull your money from your 401k, rollover to a Traditional IRA, then put it in some municipal bond fund or something. From what I understand, you can even just keep it as cash.

 

You have to keep it in the retirement account until 59.5 (I think) to not have a penalty.

 

 

UGH my brain

[Raymond Babbitt 0]

About a hunnerd dollars.

[Quickolas1 80]

You can also pull your money from your 401k, rollover to a Traditional IRA, then put it in some municipal bond fund or something.

 

 

A municipal bond fund in a traditional IRA is a no-no. Municipal is for no tax. You're not paying tax on a traditional IRA until distributions.

 

Can you guess what I do for a living

[Toro 1]

A municipal bond fund in a traditional IRA is a no-no. Municipal is for no tax. You're not paying tax on a traditional IRA until distributions.

 

Can you guess what I do for a living

 

oh..

 

Well, what I meant was something very low risk.

[Patriotsfatboy1 1,432]

They just changed all of that, or they are going to change it I thought?

 

 

Not as far as I know. That quote is from IRS.GOV and includes all of the new items for 2006. I believe that you are confusing a Roth IRA with a Roth 401k. The first one I don't qualify for and the second is not offered through my employer.

[Birdseed 1]

Maximum - But I can't understand why it's so difficult in explaining to new, young employees why it is VERY important to enroll in a 100% match up to 5% 401k program. Some are reluctant to sacrifice.

 

They just want the latest toys.

 

[Tarheel Boy 0]

This thread is like asking a geek how big his cack is or how hot is wife is.

 

Typical educated posts from the Boston focktard.