New to jobs with 401ks, can someone explain what this means? I’ve never had a job that has a 401k, and I think I get the idea of employee matching. However, I don’t get what it means per paycheck vs salary. Can someone explain to me how “the company matches 10% of your deferral up to 6% of your gross salary per paycheck?” I want to start putting money into a 401k asap, and I know I need to try to take ad…

My father died and left behind 401ks. Trying to manage money for elderly mother. How do I use 401k to cover expenses in the most tax efficient way possible. Dump 401k into IRA? Hello Everyone. First ever reddit post here. Long time lurker. I’m from the USA. My father passed away a few months ago and left behind two 401ks totaling 340k and 47k that are now in my mothers control. I am trying my very best to figure out how to handle her money responsibly but I am a young man and my father passed so unexpectedly and I feel…

Roll Fidelity 401ks into Betterment 401k Hi everyone, I recently started with a new employer that has a Betterment 401k. All of my past employers have used Fidelity 401ks. I’m wondering if it makes sense to roll the 401ks that I have into the active Betterment one to have them all in one place and potentially reduce fees. I’m finding it challenging to figure out the fees that I’m payin…

having trouble figuring out how to consolidate 401ks One of my older 401ks is closing down service and we received a letter to move it elsewhere. I have an individual investment account in Fidelity and would like to just manage everything in one place if possible. Here is what I have: Mine: Empower Retirement (current employer) Fidelity 401k (former employer) ​ Wife’s Empower Retirement (Current E…

Combining 401ks and 403bs while avoiding pro-rata rule My wife is currently a stay-at-home-mom and is wanting to combine multiple old 401ks and 403bs from previous jobs. We do backdoor from our traditional IRAs to roth IRAs and want to avoid the pro rata rule. The traditional IRAs have $0 balances unless we’re mid-conversion. Option 1 ) The most appealing option would have been to roll these various…

Can I roll my 401ks into my husbands 401ks? I am a SAHM, married. We had similar incomes at marriage, I changed career tracks in prep for motherhood/family and as such we have a pretty standard agreement in case of seperation to split all assets equally including retirement, etc. So not looking on legal advice as far as “don’t let him take your money in case of divorce!” as that’s covered…

My husband and I both have 401ks from past employers that are just sitting there. Can we combine them into one IRA, under one of our names? I’ve scoured the sub and the internet and can’t seem to get a straight answer. I understand that spouses cannot jointly own an IRA – it has to be in one name, although the other can be a beneficiary. And I know we can roll our 401ks individually into IRAs. What I’m trying to figure out is, can we dump all of them (we each have one; I might actua…

You can now withdraw penalty-free from 401ks in an emergency Since this was just passed only a few months ago, I thought I would share this in case it could help someone in the future. While this 100% should not replace a well-funded emergency fund, it can help in certain situations. There’s a saying that in life, when it rains, it pours. It’s possible to have a strong emergency fund that can make it thr…