Maple Grove MN Driver
Cocaine Mang!
Yeswhat is the option week and roth option week?
should u have a IRA and 401k ?
Pay yourself first.
Keeping stay at home moms satisfied since 1986
Yeswhat is the option week and roth option week?
should u have a IRA and 401k ?
what is the option week and roth option week?
should u have a IRA and 401k ?
Can no longer break up the option week into single days. You can take it as pay and work through it if you choose that option during vacation picks.While you certainly should have one or the other it is not necessary to have both.
An option week is a week of vacation that can be taken as single days. You can also sell your option week back to the company.
So you are planning on drawing your funds from the post-tax at 54? Did you start your post-tax 401k in 1986? Even though these funds are not taxable at time of taking out, you do have requirements on them. Like a percentage that you take, will have to be taken with a taxable amount. The only way to get post-tax 401k $'s free and clear is grandfathered accounts, and that would anything prior to 1/1/1987.In my case it is not limited because I would have to put 50% of my income into the 401k to hit the limit, the limit for pre and post tax contributions is around 50k or something. I will end up contributing almost 35k to my 401k this year.
I save roughly 45% of my income each year.
All about retiring in 3 years at the age of 54.
Going to be great
So you are planning on drawing your funds from the post-tax at 54? Did you start your post-tax 401k in 1986? Even though these funds are not taxable at time of taking out, you do have requirements on them. Like a percentage that you take, will have to be taken with a taxable amount. The only way to get post-tax 401k $'s free and clear is grandfathered accounts, and that would anything prior to 1/1/1987.
I hope you're HR person knows exactly what they are doing with your money. By putting your pre-tax and post-tax 401k in the hands of just an HR person is not really smart. Most companies don't even allow these types of accounts, because they're so difficult to manage.
I understand that, but someone is managing those funds…No plans on withdrawing at 54.
I will live off my rental income and money from my other business investments.
I started contributing to my first 401k in 1984.
HR has nothing to do with my plan, it is the Teamster 401k plan.
Thanks Dave.
Just be aware that anything post-tax after 1986 is not grandfathered and subjected to some kind of taxation. The government will have HIS share!