401k
When it comes to rollovers or transfers between 401k accounts and IRA accounts, one word makes a lot of difference. A 401k rollover requires that 20 percent of the amount being rolled over be withheld for taxes, even though the account owner still has to deposit 100 percent of the amount within 60 days to [...]
Continue reading about Difference Between a Rollover and a Transfer
Financial advisors and other financial professionals throw around certain terms like everyone already knows what they mean. In some cases, they are right, and in other cases, most people only have a partial grasp on what exactly a certain financial term means. In many cases, knowing the full definition of a word or phrase makes [...]
How to use your 401k account for your mortgage. What are your options for withdrawing money from a 401k for your home or mortgage?
Continue reading about How To Use 401k For Mortgage Purposes
With the meltdown of the banking industry just the latest in a long line of shenanigans that Main Street remembers happening thanks to Wall Street, it is no wonder that ordinary people are nervous about their finances. In particular, many people are worried about their 401(k) and how they will ever be able to retire [...]
The 401(k) Primer is up at www.financegourmet.com Direct Link to 401(k) Primer
Over on the Finance Gourmet information site, there is an article on the downside that most people forget when they take out a [tag]401(k) loan[/tag]. Most plans require you to repay the full amount within 90 days if you leave the company. If not, it is an early withdrawal for people under 59 1/2 — [...]
