401K closed with no notice I had a balance of $6300 in my 401K. I left my employers 2 years ago. I got a check in the mail minus taxes a couple of days ago. I got no notice this was going to happen. I am 67 years old. I had planned to keep it there till I needed it. submitted by /u/rdrunner97

What is the difference between the 401k limits? I’m a bit confused on the 23k and 7k limits. I’m reading fidelity’s site and there are several charts. My employer matches both roth and traditional 401k plans. I’ve put in almost $6k before matching into roth and decided to add traditional matching from my next paycheck. I’m not sure if I’ll be exceeding the roth soon though. submitted by…

401k Timeline from Aggressive to More Conservative Just turned 50 and doing pretty well. 401k balance of $950k and plan on working another 10 years assuming market cooperation and other factors. Currently invested quite aggressively–all stock funds; no bonds and frankly don’t really believe in bond funds because they’re not inversely correlated as some believe. Bonds themselves are great, but n…

22 confused on how much i should contribute to my 401k I just graduated college, no debt, and living at home for the time being. I just started my new job and i heard that you should invest as much as you can if you are able to. Right now i am contributing 20% Roth to my 401k. I don’t get my employer match until a year after working, but my employer contributes 10% of my salary every year regardless…

lost out on employer matched 401k, need some advice I recently left a job that had 401k matching, i had put in ~4% and it was matched at 6%, but I totally didn’t know that there was a vesting period of 3 years for 100% of the employer contribution, or else it would be 0%. I’m so stupid and timing was just not on my side, i ended up leaving at the 2 year and 10 month mark, any idea on if there is …

Impact of transferring 401K to traditional IRA on Backdoor Roth IRA Some articles suggest transferring 401K to TIRA after leaving a company (say, https://www.investopedia.com/articles/personal-finance/071715/8-reasons-roll-over-your-401k-ira.asp) I was wondering the tax implication of doing so if I still want to do backdoor roth IRA contribution (~$7000 this year). The IRS’ pro-rata rule requires you to include …

401k worth it if there’s not employer match? Currently 25, have HYSA and ROTH IRA active for 8 months. Is it worth it to start 401k with my employer who offers 401k with no match? Please advice submitted by /u/lightingjoker7

What to invest in Roth IRA vs 401k? Are there certain index/mutual funds that make more sense to hold in a Roth IRA or 401k? I’m looking to diversify the types of index/mutual funds I hold across my accounts. Currently I have my Roth IRA holding 70% S&P 500 and 30% in a Total market fund. I’m thinking of investing in a growth fund and possibly a smaller allocation for an income …

Company 401k, Roth IRA or both? My company offers me an 8% match at 100% in a company managed 401K account. I am able to invest in it like an IRA where my money is taxed going in. Currently I have 15% going in and My company matches 8%, so a total of 23% going into this account. I’ve always been told that you should put 15% of your income into your 401K. Lately I’ve been wonde…

70M : use 401k to pay off 2 debts? Hi all, I’m posting on behalf of my FIL (70M). He is in Michigan. He retired a few months ago, and is adjusting to life on Social Security. Income (after BCBS Medicare): $1987 per month 401k balance: $32,157 Cash in Checking/Savings: $3275 He has 2 debts that stress him out: Orkin Termite control $160 per month from July 2024-July 2025 (he pur…

Should I pay off my student loans or keep contributing to 401k at a high rate 26M living in a low/mid cost of living city: $73k income annual $43k in savings Contributing 30% to Roth 401k $40k Roth 401k balance $23k student loan debt Car is paid off, but I’ll probably need a new one in the next couple years. Still driving my clunker from college $650 a month in rent $1400 a month in credit card spending (I could easily …

Roth 401k Vs 401k Which is better? My company offers Roth 401k and regular 401k also always me to buy company stocks at a 5% discount. I’m trying to figure which is best to put my money into. Both are company match 3% and .50 on the dollars for extra 2%. With the Roth 401k any contributions from the company will go in a pre taxed 401k and my contributions will be treated like a…

What order do you prioritize investing and retirement? (401k, IRA, Roth, etc.) For context, to get this out of the way quickly: Age: 43 Salary: $185k + 15k Annual Bonus (200k Gross) Net Income After Taxes: $148k I have the following accounts: 401k (Employer does not match until after a full year employed, and I have about 4 months left till that happens – matching 5%) – Started the gig in September of last year: Less tha…

Withdrawing entire 401k at age 71 My mother is 71. She plans to retire from her full-time job by mid December In this upcoming January 2025, she would like to take her entire 401(k) balance of $47,000 out. At the time she would take this money, her 2025 yearly income from Social Security will be $14,000 a year. She would have no other income. After she pays taxes, how much could…

Take out 401k, or deal? I, F28, have been working a factory job, working 10-14 hours a day 6-13 days a week for the past 10 years. Id spent my years helping my family with their debt, getting them onto their feet and medical stuff etc. Along with my own basic living as i had the best paying job in the family and have struggled to get by till recently now just having pa…

College Grad, New Job, In Need of 401K Advice. Hi guys, as the title says, I’m hoping to gain some advice as to the best 401k planning. The current job is offering 50% match up to 6% (which I understand) but I can’t seem to grasp what an “annual retirement contribution of 7.3% made to your account after one year of service” means. I also have around 15k of student loan (interest accrues star…

401K allocations, is this too conservative? getting close to being 50 yrs old, yikes… time flies. currently my spread is 15% bond and 85% in stocks for my 401K. TROWE advisors tells me I’m still young and should be more aggressive more like 95/5 or 90/10. thoughts? submitted by /u/ek9cusco

Reason to not roll over 401k? Recently was laid off from my employer due to a restructuring. Getting nearly 10 months of severance and getting some good leads on new opportunities so feeling good about finding something sooner than later. So that’s good. Otherwise personal finances in the family are very good. Lots of savings and investments outside of retirement. But now I…

Contribute to Roth IRA or 401k or both, and by how much? Firstly, I am a minor. I have a summer paid internship and my employer created a 401k for me, but I can also put it in my Roth IRA as well. I expect to be paid $8000 by the end of this summer (also the end of my internship and pay). I don’t think my employer matches. Which should I contribute to(or both), and what percentage of my pay should I c…

Employer Has Not Corrected Missing 401K Contributions From March That Show as Deducted on Pay Stub In March my 401k contributions were taken out normally (but I change percentages every month), therefore I know it is March that has yet to be contributed. All future contributions have gone through, yet my employer has not corrected the two contribution amounts from March. I’ve spent hours between my manager, the owner, and the company who han…