ODFL | 401 K ?????????
- Thread starter JIM BOB
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Considering it is most likely based on Mutual Funds thus based on the stock market. Its a crap shoot. Hopefully the economy will do well and you gain a profit. Sure wish I had dumped a lot of money into OD stock when it had its big run up but I was to smart for that and diversified. The bigger the company matches the better. that helps a lot.
Slow roll over
Figure out where your money is going when you retire,get those people to help you with the rollover.The people that have your money now are as slow as dirt and may make mistakes.Don't expect help from your company.I've been working on mine about 6 weeks now.
Figure out where your money is going when you retire,get those people to help you with the rollover.The people that have your money now are as slow as dirt and may make mistakes.Don't expect help from your company.I've been working on mine about 6 weeks now.
Roth 401
You may be better off with a Roth 401.You should at least check them out before going to a company 401.With a Roth the tax is paid as you go,in a company 401 when you roll it over everybody is standing there with their hand out.You've got fed. tax,state tax, and bank fees to pay.So where I live about 35% is gone.
You may be better off with a Roth 401.You should at least check them out before going to a company 401.With a Roth the tax is paid as you go,in a company 401 when you roll it over everybody is standing there with their hand out.You've got fed. tax,state tax, and bank fees to pay.So where I live about 35% is gone.
Jim Bob...do both! The before tax withdrawal is there to help your retirement grow faster...may as well have that "tax" money working for you for a few years! I'm a fortunate one that being that I live in Texas and there is no state tax here! As for you SLOP, if you haven't heard back from corp yet, here ya go: company matches 30 cents per dollar up to 6% of your check. You can invest up to $15,500 (check this figure) tax deferred of your annual income per the IRS. If you're good with math, you can sit down and figured out where the breakeven point is. It's not the best match out there by far, but always remember...They don't HAVE to match anything.
You're on the right track,stick with it.Be glad you don't have a state tax.
Glad you got it straightened out. Did you dirctly roll it into an IRA or another 401K? You could have taken it in annual payments if you're over 59 1/2 and paid the taxes on only the withdrawls.
I use the 401K but we also have Roth IRA's so at least I have some money with the taxes already paid on it.
The company match is often looked at as "free" money, but is it??? By contributing to your 401K you are lowering your taxable income which also lowers your FICA taxable income. You pay FICA and your company pays the same amount, since you lowered yours you also lowered theirs. You are also lowering the gross income that your SS will be based on.
This whole saving for retirement has become such a game and everyone from the gov't to the company that's supposed to be helping you are all trying to get your money.
Hello dad, long time no see.
You are an instigator and a *u**hea*.
tundra2000
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Jim,
i am your long lost son.
i am your long lost son.Jim,
That makes you Toxic's brother.I think both of you were breast fed too long.
imported_Skywalker
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Aw come on Jim,don't be stingy.Oh thats right I don't need your money,I'm a supertrucker as someone stated.