401k balance

[Quickgun_murugan]

16 hours ago, Bhia said:

96K 6% from employer contribution 4 yrs FT 

6% contribution is really good kaka...

[krishnote3]

7 minutes ago, Quickgun_murugan said:

Super.. 50% isthey inka baguntadi kada

haha...

[Quickgun_murugan]

Just now, krishnote3 said:

haha...

how u doing @krishnote3 bro?? etla nadustundi dandha/

[alooparata]

28 minutes ago, papampasivadu said:

employer contribution 8%

almost 2.5 yrs nunchi contributing..portfolio close to 50k reach avthundi..

actually Jan lo 50k touch chesindhi but Feb lo dhamaal ani 48k ki padindhi....

do u continuously monitor your 401k allocations ?

[Roger_that]

gp

[littlestar]

5k

[Kalam_Youtheman]

23 hours ago, Akkumm_Bakkumm said:

Mine is 30k in 2 years and 25k vested. 

25k vested aina..  nee tax poyyii 15k emo vasthundhemo ga if early removal

[Amrita]

19 hours ago, phatposts said:

India vellipovalsi vaste you can actually make a good use case out of it. 

For example, you have 100K in your 401k and you left to India for good. 

You can do one of the below:

Option # 1:

Let the 100K be in your 401k and let it sit there till you reach 59.5. After that you can withdraw that. At the time of withdrawal if your balance is 200k(with appreciation and compounding) you pay taxes on the 200k. there are ways to mitigate that but lets leave it there for now.

 

Option # 2:

At the time of leaving for good to India you have 100K. Let us assume you left for good in 2019.

With the current tax brackets (revised), your federal tax brackets are 
1. Up to 19250 --> 10%

2. Up to 77400 --> 12%

Now in 2020 if you withdraw 20000 from your 401k -- you will incur a penalty of 10% for early withdrawal. And the 18000 (after penalty) will be counted towards your earning for 2020.
You pay taxes for that 18000 @ 10% only. 

Had you withdrew the 20K staying in the US, this 18000 adds up to your income for 2020 and you end up paying higher tax.

 

If your employer matches 401k and you are not investing in it - you are saying I DO NOT WANT FREE MONEY & I WANT TO PAY MORE TAX

If your employer does not match and you do NOT invest in 401k, make sure your money is growing better than AT LEAST your federal tax bracket rate. If not you better put the money in 401k.

Also keep in mind, 401k progresses (or declines) based on your fund selection. Selecting funds with less operational costs, understanding exposure etc are important. If you are not aware talk to a financial advisory. When stock market goes down, your 401k will go down too. But you will have to average over decades but not mere years.

 

 

GP

[Spartan]

1 hour ago, alooparata said:

do u continuously monitor your 401k allocations ?

yes

[littlestar]

10 minutes ago, Spartan said:

yes

[AlaElaAlaEla]

2 minutes ago, littlestar said:

but why ??

[Akkumm_Bakkumm]

50 minutes ago, Kalam_Youtheman said:

25k vested aina..  nee tax poyyii 15k emo vasthundhemo ga if early removal

May be anthe kavochu. Kani adi eppudu teyyamun kada. Employer match untundi kabatti taxes poyina a match lo kontha part potundi but ni investment and compound ina interest ithe profit ye kada.

[Chakram12]

60K 6% employee contribution 2.5years 

[Silent_Boy]

1 hour ago, papampasivadu said:

I continuously monitor all my financial transactions and holdings..not just 401k..

Personal capital use chesta...with graphs and reports occhestadhi info...mint is also good..

Mint is somehow not fully sinked with Fidelity...  is personal capital same as mint?

[Silent_Boy]

21 minutes ago, papampasivadu said:

Personal capital is much better if you want to track investment portfolio's...

budgeting cheskone vallaki mint better...