401k
Using Your 401k During Unemployment
Q: I was laid off my job last night and I need advice about what to do with the money I have in my company 401(k). Would you be able to recommend a fee only financial planner who could help …
Keep Cash Safe or Invest in 401(k)
Should you keep your cash safe or invest your money in your 401(k) or Roth IRA. Where should you invest your money given recent events? Q: With interest rates as they are and investments frequently losing money, does it make …
Roth 401k vs 401k Contributions
Should you make your contributions into a Roth 401k (post tax money) or make contributions to a non-Roth 401k (pre tax money). Q: My husband and I are trying to determine whether he should continue to make retirement contributions into …
Short Sale Approval Not Possible With Lender
Some lenders are harder to get to approve a short sale. If you are having trouble, here are some ways to get your short sale approved. Q: I own a home, but I bought another home with my boyfriend. I …
Paying For College With ARM Home Loan Or 401k?
Using ARM loan is better than 401k to pay for college. Q: My husband and I are 56 and 55 respectively. We have 3 college tuitions and 2 of 3 weddings done, and are now thinking of taking advantage of …
401k Withdrawal Or Home Equity To Pay For Wedding
What would be better, the withdrawal of 401k funds or to obtain an home equity loan to pay for wedding expenses? Q: I am 57 and my husband is 62. We would like to borrow $25,000 to help pay for …
Don’t Use 401k Withdrawal to Pay Off Mortgage
Don’t use 401k withdrawal to pay off mortgage. Don’t pay off a mortgage with a 401k withdrawal. Homeowners should not take money out of a 401k to pay off a home loan. Taxes and security issues are why homeowners should not use a 401k withdrawal to pay off mortgage loan. Homeowners should try to budget their money rather than use 401k withdrawal to pay off a mortgage.
Lien On Property Shouldn’t Be Paid With Retirement Funds
Liens on property must be paid, but make sure you truly owe money on the liens. If you owe money on a lien and want to pay it off quick be careful with removing funds from a retirement fund. Don’t rush paying off a lien if it means dipping into a 401(k). The tax penalties of removing from your 401(k) savings can be harsh. Talk to a real estate agent to find out more about liens on your property.
401k Loan Must Be Paid Back Or Face Tax Consequences
A 401k loan must be paid back in 60 days or the IRS will look at is as a 401k distribution and you will have to pay taxes and penalties. You have to find a way to pay back a 401k loan within 60 days. To avoid paying penalties on a 401k loan, you should avoid taking 401k loans and consider rolling over the rest of your 401k into an IRA. Don’t get stuck paying penalties on a 401k loan.
Where To Invest Money When You Have No Debt
Wouldn’t it be great if you had no debt? And if you had no debt and had money to invest, where would you put it? Leave your comment below on your advice as to where you would invest your money if you had no debt. Would you invest in the stock market, bonds or put the money into a retirement account like a 401k? Some people might even invest the money in a tax free annuity. But if you are self employed, you may have additional options available to you.
