Let’s Talk About Retirement

praveen_c asked:


Hi,

I left my 401k monies with my old employer. Its been about 20 months since I left them. I would like to rollover this money into my new account with the new employer. Is this possible?

Thanks!

401K

chemist asked:


I am planning to work in my current position for two years and then go to school for a full time MBA graduate degree. Can I contribute to my company’s 401k plan now and then withdraw the amount after 2 years to fund my college expenses without being subjected to the additional 10% penalty ? For this to happen, do I have to roll over the 401k savings to an IRA first, and then make the withdrawal for college expenses ? Are there any expenses involved in this process ?

Caffeinated Content

401help asked:


I am currently contributing to my 401k plan at my present job. I don’t like the choices they give me and the brokerage plan charges $18 per trade and $100 a year maintenance fee. Can I continue to fund the 401k plan and transfer the moneys to a Roth IRA or similar plan at another brokerage?

Caffeinated Content

gallilea asked:


I have a target retirement fund for all my 401K money and it’s down right now. If I keep adding money does it buy more shares of it so when the price goes up I do even better?

Website content

new name asked:


Just how does one start a 401K if you work at Wal-Mart? Do you need a specific amount to start with? Does Wal-Mart match dollars invested or do anything special with 401K’s there to make them larger or not?

Kansieo.com

tooty1117 asked:


I received distribution of a portion of my 2006 401k contributions in early 2007 because of failure of 401k plan for high income earners. I reported this on my 2006 taxes. I received a 1099R in 2008 for 2007. How do I report this since I’ve already included it in 2006 taxes?

Caffeinated Content

Jen asked:


I see all over the internet people mentioning cashing in their 401k early to pay off debt. I just tried to do that exact same thing, yet according to my representative, (who put me on hold to verify with someone else) there is not one single legal way I can cash in my 401k early without qualifying for a Hardship Withdrawal and providing proof from a very limited list of acceptable documents for them to investigate.

Which is the truth here: Have people closed out their 401k early to pay off debt, or is there no legal way to do so?

Caffeinated Content

yogidog asked:


I have an existing traditional IRA and two 401k’s from previous companies. I’d like to consolidate accounts.

Is there reason I should roll the 401k’s into a rollover IRA instead of directly into my existing traditional IRA?

Are there any consequences regarding maybe later converting the IRAs to Roth IRAs later?

Website content

mcrevell80 asked:


My husband is starting business school in the fall. I completed his FAFSA and our expected personal contribution is $53k per year (yikes!).

He has a considerable amount saved in his 401k account and since we are both young it might make sense to use that 401k retirement $ towards school expenses.

Is there any way to do this without incurring huge penalties? I know we would pay taxes on the amount in the 401k, but if we are using it for education expenses it seems like there might be some way to use the money without paying the penalty…

Does anyone know of a good way to do this?

Create a video blog…instantly.

Emily Dew asked:


We recently got a new 401K and need to decide our allocation mix between large caps, foreign and bonds. Not sure if I should take the current economic situation into consideration or just stay the course. Thanks!

Website content