Question

 Should you keep adding money to your 401k?

Answer On One Hand: You should contribute to your 401kYou should continue to add money to your 401k. The tax advantages and tax-deferred growth offer a very attractive opportunity. In addition, any empl... Read More »
http://www.answerbag.com/q_view/1987726

Top Q&A For: Should you keep adding money to your 401k

Can you take 401k money to use for a down payment?

The Internal Revenue Service allows loans from 401k plans. If the loan is for a home down payment, the repayment period can be 10 years, rather than the usual five-year repayment period, according ... Read More »
http://www.answerbag.com/q_view/2229960

Should I borrow money from my 401k?

On One Hand: Don't Tap Your Nest EggYour 401k plan represents your retirement savings. If you take a loan, you hamper your ability to continue to contribute money to your 401k plan. If you fail to ... Read More »
http://www.answerbag.com/q_view/1998104

When do you have to withdraw money from an IRA 401k?

If you have a 401k or a traditional, simplified employee pension (SEP) or savings incentive match plan for employees (SIMPLE) IRA, you are required to start taking withdrawals by April 1 the year y... Read More »
http://www.answerbag.com/q_view/2210227

Can the IRS take money in a 401k for tax debt?

Yes, the IRS can seize garnish funds from a 401k retirement account to cover an unpaid tax debt. However, the IRS must first send a Notice and Demand for Payment letter stating the exact amount ow... Read More »
http://www.answerbag.com/q_view/2249703


feedback
loading