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How many years is your mortgage?
I just bought this house last Sept and did a 30 year. Took a damn minute but just sold my other house, so I've been paying both mortgages since then. We close in a couple weeks
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How many years is your mortgage?
Just open one. You can always just transfer it to vanguard later in the year. Opening it and contributing is the more pressing issue.Anyone have retirement accounts with TD Ameritrade ? Thoughts ? I'm too late to start an account with Vanguard since they want me to mail forms in and I wont be able to get it done by the April 18th deadline.
I have TD Ameritrade for my HSA. It works, just like any of the other major brokerages. I've got no beefs with it right now and, like @Antidope said, you can just open it and then transfer to Vanguard later if you want to.Anyone have retirement accounts with TD Ameritrade ? Thoughts ? I'm too late to start an account with Vanguard since they want me to mail forms in and I wont be able to get it done by the April 18th deadline.
^ You will be taxed only on the long term capital gains(proceeds less cost basis) which is taxed at 15% if you're in the 25 to 35% tax brackets
You could also look at the tax lots, see which ones have an unrealized loss and just sell those as well (unless they all have gains in which case sell the long term tax lots)
If you're contributing money outright into a Roth you just wouldn't be able to deduct the contributions on your tax return whereas with a traditional IRA you would.
In regards to the second hard to answer cause I don't know how those other sites are set up. I have Fidelity and it's terrible I have to look at tax lots for each position one at a time instead of just being able to look at all of them. Generally it should be a sub menu under the holdings/positions tab.
How does an unpaid 401k loan affect your taxes?
If you take a loan of 5k, make regular payroll payments and leave your job, (let's say you have a 3k balance at this point). the balance of 3k has to be paid within 60 days. What happens if you don't pay that back? I've read some places that you'll get a 1099R for the outstanding amount. Not sure if true. If true, how can this affect your taxes/tax refund/your pockets?
(Not my situation btw)
How does an unpaid 401k loan affect your taxes?
If you take a loan of 5k, make regular payroll payments and leave your job, (let's say you have a 3k balance at this point). the balance of 3k has to be paid within 60 days. What happens if you don't pay that back? I've read some places that you'll get a 1099R for the outstanding amount. Not sure if true. If true, how can this affect your taxes/tax refund/your pockets?
(Not my situation btw)
Don't you invest in mutual funds with a 529? Thought it was just another tax advantaged type of account like an IRA or 401k.
It seems as if there are some advantages but I'm worried about if he gets a scholarship or goes to a school where his tuition is covered since I'm a disabled vet, the money still has to be used for school or it will be taxed or have penalties.
Just wondering if it will be easier to pull money out if it's invested in mutual funds vice the 529.
You should roll it over.Good info in here
Another scenario for y'all
And this is the position I'm in now
Young dude (under 26), fully vested in 401k. Been with the company 3 years. Thinking about leaving to start with a new company (salary will be higher of course).
What's the smartest thing to do with the 401k? I know rolling it over is always the way to go. But what are your thoughts on withdrawing it upon resigning from my job, and take the cash to use as a DP for a house? And then I start fresh with the new jobs 401k?
Not sure if that even makes any sense or if ppl do that, but what do y'all think?
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You should roll it over.
There taxes/penalties for early withdrawal.
If you REALLY need more $ for DP and are set on using 401k funds:
Roll it over to new job's 401k, take out 401k LOAN (not withdrawal). Standard is you can take out 50% of what's in there. My company has 5% interest rate (that you pay to yourself) for 401k loan and you pick your repayment timeline anywhere from 4 months to 10 years. No taxes or penalties, but a portion of your paycheck will go to paying back your 401k loan.
Great Lakes Credit Union offers 3.0% on up to $10kBest interest rate I've seen is at Santander bank. 1.20% interest rate if you keep the balance above 10k, 0.30% if it drops below that.