Transfer 401K balance to current employer? I have been keeping my 401K from previous employer and have been paying the maintenance fee for almost 9 years now. Off late I have been reading more about managing finance (read changing from n00B). Is it good to consolidate them by moving it to my current employer’s platform? Also I have been keeping this in Target funds. Would like to hear ab…

Should I contribute to 401k plan with employer I plan on leaving after schooling is done (3 years max)? As the title states, I work for an employer with a 401k match but I do not intend on staying with this employer. I decided to go back to school awhile back for something far different than my work now, so I will be leaving the company within the next 3 years. Trouble is, I have no idea how this works, is it a waste of money to make any contribut…

Please explain 401k to senior with new job I’m 72 and just started a new job in April. It’s been years since I’ve worked, and I have never contributed to 401k before. I just received my 401k packet, and have questions. This is what I DO understand: 1) I need to choose to not contribute, or contribute. 2) If I do nothing, they will automatically contribute 3% 3) I can choose to contribute…

How much money in taxes and fees will I have to pay for leaving my current job when I have a 401k loan out? I had to make a large emergency vehicle repair so I took out a 401k loan. However, I feel as if my current employer will not be an open and functioning company in the near future so I am starting to apply at other places. I’m just wondering exactly when I would have to pay the taxes and fees for this 401k loan and roughly how much this will be. …

Smart or dumb to use 401k in this situation? I know I know, never take out your 401k. However, this is a very specific situation. Living in a family members house and have the opportunity to buy it from them next year for about 200k less than what it’s estimated on the open market. I’m wanting to get my current debt out of the way beforehand, which is $11,000 in car payments and $20,000 in…

For married couple with large income gap, does it matter which 401k we invest in? At first I assumed we should prioritize the 401k of the larger income but then realized if we are filing jointly then it shouldn’t matter? Since the IRS are summing up our taxable income anyways. Am I wrong on that? submitted by /u/PlatinumMode

Tax laws regarding a roll over from a Traditional 401k to a Roth Ira (Puerto Rico Perspective) We don’t have a Subreddit like this one for PR so I have to ask here in case someone knows. I quitting my current job (Private US Company) here in PR and I would like to roll over that money (401k) to an Roth Ira from M1 Finance. I know I will be paying taxes on the quantity (only 15k) but my doubt is if I have to pay the 10% penalty by doing t…

Company insurance going up and they are advising we go down in 401k contribution Company just informed us our insurance is going up 40%. In order for people to not notice the difference in our checks they said people should take down what they’re putting into their 401ks to only 2%. They match 10%. I put in 10% currently to take advantage. I have opinions that my job will be doing this to save money If I don’t change this, m…

Choosing the best 401k fund at age 32 I was taking a look at my 401k information and I was thinking of choosing a different fund. At this moment I’m in a 2055 TD fund and I’m not sure if that’s the best option because I am planning to retire by age 55. Any assistance or input would be appreciated, I am just not sure if I am parked in the right place. I have attached a link with the …

I work at Amazon which provides a 50% 401k match up to 4% of income. Is this is good? Just started at Amazon so not sure if it’s good or not, any advice is appreciated! submitted by /u/DeluxeSpoon

How much to contribute to 401k as new grad? I just started a job fresh out of school making 90-100k a year working fully remote from my parents home with no expenses. How much should I be ideally contributing? I currently contribute 25% to the roth 401k, but my company doesn’t match until after 180 days. I just need some advice as my dad recommended me to do 25%, but i’m not sure if thats…

Started my first job in June, should I be contributing to my roth 401k rather than traditional 401k? I’m making 100k a year. Since I started in June, should I contribute to my roth 401k since my taxable income will be lower this year at about 50k (I may be understanding this wrong) and then next year move to a traditional 401k since my income that year will be 100k? submitted by /u/glocks9999

That is considered a top tier 401k match from an employer? What is a considered a top tier 401k match from an employer? The best I’ve seen is a match of 10% of salary with a cap at 10k per year. Could it be better than this? What do other ones look like that are considered the best? submitted by /u/zippa54321

New job starting soon, how aggressive should I be on my 401K? I’m starting a new job that pays 120K annually, and paid in a bi-weekly schedule. I’m 34M, single, and not married yet. I have a total of 57K in assets both liquid and current 401K’s combined. I paid majority of my 50K student loans, and have only 10K remaining. How aggressive should I be in my 401K? I also would like to purchase a home in the n…

Is it smart to be this aggressive with my 401k? 22 years old, I just started a new job that pays 110k per year and I need to set up my 401k contributions. My employer matches 50% of my contributions up to 6% so I was just gonna contribute 6%, but my parents suggested to just max out the $23,000 IRS limit at about 21% since I have no debt or any major expenses since I’m living at home. Is this…

Just moved to US, unsure about 401k/IRA/investment accounts/etc Hi! I just moved to US and I liquidate all of my canadian investments and it’s currently just sitting there waiting to be moved to US accounts. I started learning about 401k/roth 401k/ ira/roth ira. Are there other retirement/non-retirement accounts I need to look into? I started seeing ‘backdoor roth’ so im not sure how many more im missing o…

Wife has funds from a previous job 401k moved to a rollover IRA. Can she move them to new 401k? My wife had some funds from a previous jobs 401k and those funds are now in a rollover IRA. Is it possible to move them to her new jobs 401k? submitted by /u/linkismydad

31 and starting 401k no help from company. Got sent a packet and having a hard time on the page for contribution election and investment election. I was given a number but past week they l don’t answer. What can I do? On one hand there’s stock and bonds with percentage like the s&p 500 stock etc.. just don’t know which. Then there’s a goal manager that has conservative moderate or aggres…

How to determine what an early 401k withdrawal will look like in the event of job loss? Under 60 for context. I am trying to determine what it would look like but the online calculators give different results. If I withdraw money from the 401k, how can I accurately determine what I would owe? Obviously I don’t want to do this, but I absolutely would if need be. submitted by /u/whatsonthemindtoday

Should I keep paying my student loans ASAP and maxing out my 401k while staying home for the next year? Heya, 27 year old. I graduated May 2023 with $115k in grad student loans. Interest on them between 4% and 6%. My income varies as I’m hourly, but I make between $1600 and $2100 a week, probably averaging $1900 (after tax and 401k and insurance). Currently have my 401k set at 15% but I increased it to 17%. I have $65k of loans left and I currentl…