401K Maximum - Part 2

The 401K Maximum- How to Get Maximum 401K Value

Ok- everyone wants their 401K account to go up in value all of the time- right? Well, fat chance. Markets go up and down all the time and lately it’s more down than up. So hang in there because what goes around comes around again and again. Here are some tips to smooth out the [...]

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3 Ways Your 401k Contributions Will Profit More Than Any Other Investment

You may think that you can make more money by investing outside of your 401K, but that is misleading. If you are eligible to contribute to your 401K plan then your first investment dollars should be an option within that plan. Don’t be tempted by short term gains elsewhere until you have contributed up to [...]

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401K Contributions-Automatic Savings for Now and Later

You can contribute to a 401K plan that your employer provides through your paycheck. The money will be deducted from your paycheck and put into your 401K account before you pay taxes on it. Sounds scary? Nah, you won’t miss it. You are an adult now and you are saving money for your future. [...]

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What Are the 2010 401K Contribution Limits?

Your 401K contribution limits increase every year. Although in tough economic times like this it is hard to save, the 401K plan , which is provided by your employer can be a great tool to help you not only save money for the future but provide tax savings in the present. Because you contribute with [...]

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401K Loans-Only When You Are In a Financial Pinch

Before you get all excited about the possibility of taking money out of your 401K without penalty, consider these facts:
For a loan to not be treated as a taxable distribution it has to be repaid within 5 years
and it can’t exceed the lesser of $50,000 or
the greater of 1/2 of the nonforfeitable accrued benefit in [...]

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401K Calculator-Calculate What? Why use one?

I am not a big fan of 401K calculators because people freak out when they see how much they need to meet their goals and most of the time they are not very accurate. Let’s face it. We live in a world that is changing rapidly and what tax rates and goals and rates of [...]

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When NOT to do a 401K Rollover

Everyone talks about doing a rollover of your 401K plan assets into an IRA and the wonderful advantages of that. Why do so many people do rollovers— because the receiving firm WANTS YOUR MONEY.
But there are some times when it is appropriate to just leave it with your ex-employer. Here are 4 criteria for staying [...]

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401K – what is it? and why should you care?

The 401K plan is a defined contribution pension plan that is offered to employees of a company. It is used for participants to save over the long term for retirement. It is used as a supplement to social security for some people and for some it is used as an investment for retirement. You can [...]

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401K withdrawal

When it comes to 401K withdrawals- just say no! Step away from the 401K account and find money somewhere else. You will find that taking money out have severe penalties — not just the 10% that you hear about but also federal income taxes and state income taxes too (depending on the state that you [...]

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5 Tips on How to Manage Your Own 401K and Save on Financial Advisor Fees

Don’t know if you should contribute to your 401K or not? You are not alone. Many people find the information overwhelming. Stop wondering if you can do better somewhere else. The 401K account is there to help you grow money that will supplement your social security. Take full advantage of it by following these five [...]

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401K Contribution Limits and Other Personal Finance Tips to Maximize Your 401K