When you take a 401(k) loan, you pay no taxes on the amount received. However, if you don't repay the loan on time, taxes and penalties may be due. Specifically, if the loan is not repaid according to the specific repayment terms, then any remaining outstanding loan balance can be ...
The transfer is tax-free because the insurance company sets up a Traditional IRA account to receive the money. So this is really an IRA-to-IRA transfer. I've written a blog article about this topic here: https://www.immediateannuities.com/roll-over-ira-or-401k/ -Hersh Sam 2015-06-24...
When a person dies without a will, he is said to have died intestate. Anintestate estateis also one where the will presented to the court has been deemed to be invalid. The probate process for an intestate estate includes distributing the decedent’s assets according to state laws. If a d...
down are going to relieve some of that pressure as well. And hopefully, it juices the economy just enough to keep the job market from falling apart, but also, not so much inflation picks up, but I think for now you get it, start with that half point cut and y...
A lump sum distribution from a tax-qualified defined benefit or 401k, or an IRA account.Why should I consider buying an Immediate Annuity? What are its advantages to me?An immediate annuity comes with many important advantages. Here are just a few: ...
With a deferred annuity, your payments don’t start until a future date, and you get to enjoy tax-deferred growth on your principal and interest. If you earn a high income and have maxed out other pretax options like a 401k or IRA, putting money into an annuity would allow you to def...
If you’re debt-free or at least satisfied with the amount and types of debt you have, you can consider this next step after you’ve maxed out your 401k. With a traditional IRA or a Roth IRA, you have the chance to save additional funds for your future retirement. However, this optio...
The TV first says it's 401k smart TV. It's not any better than a regular 1080p TV from ten years ago. There is no HuLu so your kids can't watch their cartoons. Your wife can't watch Bachelorette and Chicago Fire and PD. I'm not happy with this TV. Don't buy this piece of...
Life happens to everyone and everyone has a certain amount of shit they have to go through. Sorry to be blunt. And you don’t get to choose that. But what you do get to choose is the story that you tell yourself. Because it’s not what happens to you in life that defines your ha...
What happens if I don’t write a will? If you die without a will (the legal term is dying "intestate"), a probate court may distribute your property according to your state's laws. In many states, intestacy laws require courts to transfer your property to your closest relatives, typicall...