FICA taxes are payroll taxes that include Social Security tax and Medicare tax. Like income tax, FICA tax is deducted from your gross pay. If you make 401(k) contributions, those will come from your gross pay before income taxes are deducted, but FICA taxes will be deducted ...
The number of shares you have in your 401(k) isn't in and of itself a reason to hold onto your stock. If you have a lot of stock and it fits your investment goals, holding onto it could be the best ...Read More
Whether you're curious about the returns from your current employer's plan or you're weighing a job offer from another company, reviewing your 401(k) plan is always wise. After all, small differences ...Read More
Depending on the specific 401(k) plan that your company offers, you may be able to invest in a variety of different properties, including mutual funds and individual stocks. Some companies offer ...Read More
Most 401(k) accounts offer a limited number of investment choices. Usually, you aren't going to be able to call your 401(k) administrator and request a block of American Gold Eagles. However, if your ...Read More
Life insurance and retirement planning are both integral parts of a sound financial plan. It's not a matter of whether you should have both, but what kind of life insurance and retirement plan you ...Read More
If you move to a new employer, you can often roll over your 401(k) to that employer's account. You can also roll a 401(k) into an IRA. If you simply take the money without putting it in a retirement ...Read More
You can't always directly buy stocks with a 401(k), depending on how the account is set up. When you leave a job with a 401(k), you will be able to roll the 401(k) over to an IRA at a brokerage of ...Read More
Many people have one or more "old" 401(k)s from jobs they've left. Often these accounts linger, creating paperwork and confusion for their owners. But 401(k) plan owners have several options if they ...Read More
Generally, 401(k) rollovers are for those who change jobs. You can make an in-service rollover if you still work for an employer under certain conditions. However, you can never make an in-service ...Read More
With employees changing jobs more often, and typically not staying with one employer from the time they begin working until retirement, workers often end up with multiple 401(k) accounts from their ...Read More
A 401(k) is a tax-deferred savings plan for employees. It is named after the section of the Internal Revenue Code that created it. Employers offer 401(k) plans to recruit, retain and reward workers. ...Read More
If you’re a smart investor, you’re adjusting your investment strategy for each decade of your life. As your earning power changes, and as you get closer to retirement, you should take those factors ...Read More
Even employees who work for government employers, public schools and tax-exempt organizations might succumb to the entrepreneurial drive. When people leave the security of a steady paycheck to start ...Read More
In order to determine your 401(k) rate of return, first start with your original balance and subtract it from your current value. Divide your total gain by your original balance for your total ...Read More