401k options, VTSAX unavailable Just finished reading A Simple Path to Wealth and wanted to simplify our retirement plan investments. Neither my husbands or my 401k offers VTSAX or any other total stock market options. Should I just go with an option that tracks the S&P 500? Here are some of our options: GSFTX OIEJX FXAIX JUEMX APGZX HNACX Also, my husband still has another 4…

What’s better a pension or 401k? I currently work for a town and I contribute 6% of my paycheck into a 401k and they contribute 9%. I’m looking at employment in another town that offers a pension but they don’t put anything into a 401k. How should I go about comparing the two? Is a pension better or is 15% into a 401k better? submitted by /u/fabricator123

I have a 401k loan question I have a 401 loan with an employer i just left to start a new job. I have paid in enough taxes to cover the penalties, as that’s not really my question. My question is when I borrow the money from my account why does the defaulted amount come out of my 401k again when it came out already when I took the loan? Shouldn’t it just be treaded as a wi…

401k withdrawal plan. Pros and cons Im 65, wife 68. I want to withdraw all or most from old 401k yo a savings and disburse money each month to 3 adult kids for about a year.I know I pay 20% tax from the git go plus state tax to be considered They will inherit it but would like to see them benefit from while we are alive The only con I see is taxes which is inevitable regardless. …

After tax contributions – can only do mega backdoor Roth 401k, not Roth IRA Hi, I already maxed out my trad 401k. I just learned that I can do after tax contributions thru my works retirement plan but I can only convert them into Roth 401k. I can’t move then into a Roth IRA unless I leave the company Is it still worth it to put them into a Roth 401k? Thanks! submitted by /u/Complete_Donkey9688

Hello, I would like some help figuring out what to invest in for my 401K Hello, I’m 16 and got my first job working at dollar general, and working at dollar general they have a 401K Voya plan. I would like to know some other peoples opinions on what I should invest in. The options that this Voya plan has are: Galliard Stable Return Fund Vanguard Total Bond Market Index Metwest Total Return Bond Fund Plan Class Dodge…

For someone in their 20s, personal loan or 401k loan to pay debt? I’m about 15k in CC debt, never envisioned it happened after I got my first card but thanks to having to front bills for my ex when he quit his job I am. Anyways, the debt is really stressing me and I’m tired of looking at it. I know it could be worse, but my limits aren’t very high despite never having been late and the utilization is really ea…

My employer offers both traditional and Roth 401K I get a company match on whichever I choose to contribute. For the first ten years I contributed solely to the traditional 401K as that was all that was offered at the time, but for the last couple of years I’ve switched to contributing solely to the Roth 401K as it became a new option for us. Since I get a match on either one, and the bulk of m…

401k Overage. Do I fix it? Let’s just say, hypotheticall of course, I added too much to my 401k in 1 mayyyybe 2 years over the last decade and did absolutely nothing about it. Will it have ANY negative repercussions long term? The taxman hasn’t reached out or communicated anything to me about needing to fix it and I’ve always felt if it was that big or a deal they would….

(Ohio SERS) Pension vs 401k Question About Benefits Upon Death I just got a job offer for a position that has an Ohio SERS account. I’ve been reading about it and I’m confused as to what happens to the money when I die? If I have a 401k, leftover money will pass to my beneficiaries. So if I retire at 67 and die at 70, I would have a ton of money left for them to inherit. If I have a SERS pension, the lefto…

Roth 401k, Traditional 401k, Roth IRA Hi Everyone! I’m 22 and I just started working after graduating college. I’m still deciding how to set up my retirement and investment accounts and I was wondering if you guys could help. Should I go for a traditional or roth 401k? Should I also max out a roth ira at the same time? I also currently have an investment account (not for retirement)…

401K – should I change investment % Hi all, I recently switched job and my new employer’s 401k plan has much better options than before. However I’m not sure if I made the right decision on choosing the funds. I currently have the following: VFFVX – 60% VOO – 40% But there are other options like VTSAX, VGT, VIGAX, FBGRX, SCHD, etc. There are also bond options but I don’t think tha…

401k ex-employer to employer transfer and Rule of 55 Hi – Let me begin by saying any help/advice here is greatly appreciated. I’m 51 and have been at my current employer for 18 years. In addition to my 401k with my current employer I also have a 401k from a former employer, both are with Fidelity. (2 separate accounts) My goal is to retire at 55 and financially I’m currently on track to do so. Wh…

Help picking a 401K fund About to start a 401k with my new employer. Does anyone have any information on which is best to choose? These are my options with the gross expense ratio listed as well. I am 26. I have a lot of investments and CD’s already. I am fine with more risk in my investments. Thanks in advance! • MFS Equity Income R6 0.63% • Fidelity Blue Chip Growth K…

How long for a 401k loan to hit my account?? I just submitted my request through John Hancock to take a 10k loan from my 401k. The John Hancock rep said the request has been sent to my company’s third party administrator, and after they approve it I should receive an email asking me how I want the money (direct deposit, check) After that it goes to my plan administrator within my place of …

“You’re wasting your money by dumping it into a 401K” Started a new job and was looking to move roughly $40K to my new 401K from my previous pension account. I was told by an financial advisor at the company that the only benefit of having money in a 401K is the initial contribution, which my company will match. He went on to say “You’re wasting your other money by dumping it into a 401(k)”. Is th…

401k loan/withdrawal to pay off credit card debt Long story short I find myself with about 25k in credit card debt. 8k of that is on a 0% balance transfer card, the other 17k is on the max APR. I have 30k sitting in a 401k…. Would it be a foolish idea to withdraw my 401k to payoff this debt? What about a 401k loan? I am unable to lower my expenses any further at this point in time. I understa…

max 401k and roth out or save for grad school to pay out of pocket option 1: max 401k and roth out, save remaining for grad school, take potential loans out option 2: 401k match, invest as much into roth as i can not maxing out, save the rest aggressively for grad school submitted by /u/qazvnpug

Question about maxing out my IRA and 401k I have a personal IRA with Fidelity that has a cap of $8,000.00 per year. I also have a 401K (through my job) which I believe the cap is something like $38,000.00 a year. From a Taxes point of view, when I hit the limit on both do they both count as ways to reduce my income taxes? Meaning is there any risk if I max out both of these come taxes t…

T Rowe Price 401k Rollover I have a 401k account with T. Rowe with my current employer. I wanted to roll this money over to an IRA because honestly, my current IRA is performing far better than my 401k, and I’d like to have the option of not having all of my money tied up in an account that I can’t touch until I’m 60. I called their service line, and they told me that sin…