[HazyMemory]

Ok, next Friday, my 401K money is being disbursed to me. I then have what options??
anybody??
IRA,
Roth IRA,
Roll over if I get another job??
Any other options??
Any advice out there.

 

[waxonwaxoff]

IRA's are a great way to go. Lot's of tax advantages... But it does depend on your income level, there are limitations... Also, if you have kid(s) funding a 529 is another tax shelter investment.
Another thing I would look at is funding a life policy... You can give yourself interest free loans....

Lot's of options, but the best advice I would give is talk to SEVERAL financial advisors... There are a lot of things you can do to fund your retirement, and it is a very important decision.

I can't wait to take the money out of my 401k, that way I can start making some money!

 

[HazyMemory]

Thankyou waxman.

 

[delsolcruz]

I have a company sponsored 401 (k) check being dispersed to me soon too.

I like Fidelity. I will be rolling-over the money to Fidelity. I don't know what type of mutual fund I'll be going with, but I know I'll keep it in a traditional Roth IRA.

You're still young, my suggestion is to go with a more aggressive fund. It's my opinion. I'm not a financial advisor.

 

[Capt'n Rob]

Tax Man?

 

[Focker]

Buy a bigger boat!!!!

 

[HazyMemory]

QUOTE(Focker @ Nov 14 2003, 10:51 AM)Buy a bigger boat!!!!

I only have like thirty days with this money to re-invest. After that I will have to pay huge fines in the form of taxes.

 

[afiremen]

I left a job once that I had a 401K at and I just cashed out the fund!

What a big mistake!

After taxes, penalties and then income taxes at the end of the year, it cost me 68%!

I would suggest that you roll it over to another account. DON"T cash it out, it will not be worth it!

just my .02 worth!

 

[HazyMemory]

ttt

 

[bobrob]

ask cotty i think that is what he does .. advise peeps on money

 

[Shandog]

rollover IRA Hazy ~ I just did the same thing. I went through my bank: 5/3rd Bank. Got an aggressive fund and am making $$ on it already.

Good Luck!

 

[Adios]

QUOTE(Shandog @ Nov 14 2003, 06:51 PM)rollover IRA Hazy ~ I just did the same thing. I went through my bank: 5/3rd Bank. Got an aggressive fund and am making $$ on it already.

Good Luck!
if i give your bank $$ shandog will they do their funny math?
5/3rd you mean 1 and 2/3rds........lol

simple fractions.....lol

hazy i would pm-email taxman, he is an expert on this.
although everyone else is probably correct...
but taxman may have a fund that may be hot....who knows
it is worth a shot

 

[bobrob]

QUOTE(Fast~Eddie @ Nov 14 2003, 07:18 PM)[ knows
it is worth a shot
shot??/ ok sounds good