penalty free, for education expenses as well as for a first-time home purchase ($10,000 limit). You still pay income taxes but this is a nice option you don’t have with a 401(k).
generally up to 50 percent of the account value.Fidelityreports that a loan is not considered a distribution, so you will not have to pay taxes or penalties on the loan, but you will have to maintain a repayment schedule, as with any other loan. With a 401(k) loan...
Assuming you have the rollover account set up and ready to receive the funds from the 401(k), the check should be made out to the IRAcustodian— i.e., say Schwab, Fidelity Investments or another investment manager — for the benefit of you. In this case, there is no tax withholding. ...
We are in kind of blue water. I know people that always say to me and some of the intelligent people on my podcast,Fun With Annuities®, interest rates have to go up. I don't think so. We are in a different time period where we've painted ourselves into a corner. So, interest...
Is this amount plenty to have? If it’s a problem of plenty, this seems to be a happy problem to have. I should be happy about it, isn’t it? But, at the minimum possible age that I can withdraw from retirement savings without paying any penalty, I have to pay more taxes than ...
I'm an ophthalmologist in California, and I'm calling with a question on how to account for a primary residence when considering asset allocations. I own my home outright and thankfully do not have a mortgage, but real estate is expensive here. So, its value accounts for about 50% of ...
If you don’t have a workplace plan, I want you to open a Roth IRA account at a low-cost brokerage such as Fidelity, Schwab, TD Ameritrade or Vanguard. You can start saving in ETFs with small monthly contributions. When you open the account –it’s free – you will be able to sig...
Although we love our current house, I look forward to a smaller home. Ideally, in 3 years we will downsize to a home that we can purchase outright with the equity we have in this home. Both kids out of the house with jobs and health insurance. ...
While I think the best ways to pay for advice are an hourly rate for financial planning and a flat annual fee for investment management (although they also have their own conflicts of interest), I certainlydo take advertising money from advisors who charge AUM fees and have for years. Over...
Remember, closing your Navy Federal Checking Account means that you will no longer have access to the funds within it. If you still have remaining balances or pending transactions, it’s crucial to address them before proceeding with the closure. Now, let’s move on to the next step in the...