 Where can I invest $500 and get get nice returns? |
Additional Details
Ok, so what about $1,000? Can I invest this in some stocks? What are the procedures?... |
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I have some Christmas money that I want to invest; anybody have any stock ideas for me?
Please tell me why you think the stock will be a strong one; I'm looking for a well-reasoned idea, ... |
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Let me explain something here: The american dollar isn't worth a damn in foreign markets(which we use to import things we need), so if the DOW goes down, the ... |
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 What would you recommend as far as investing in "penny stocks" presently please? |
Or stocks at a low cost that seem like there's a pretty bright future ahead for a lot of financial growth?
(ex. a new medication/drug/pharmacuital)... |
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 What's the best investing strategy for someone with under $1000? |
| I recently started buying stocks. After like 2 months I made one dollar...lol. I was wondering what the best strategy is for someone with like under $1000 in an account? I should mentioned trades ... |
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 Safest way to invest $766,000 Canadian..? |
Recently came into some money..
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 Why is it things are always priced with 99 f**kin cents at the end of it?!?!? |
Example, a video game for Playstation 3 is 44.99...but not just that, many other things. Is it greed? I mean why cant it ever be 44.00?????
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Thats the stupidest garbage ... |
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bbrown9506 | Can I move money from my 401k to a IRA? |
Even though I am still on the job and contributing to my 401K I would like to move money out into a IRA since I think i could do better myself then the funds I have! |
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Ginger
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You can rollover the money to a self directed IRA when you quit or retire. Otherwise you are subject to taxation if under 59 1/2. Rules will be changed in the interim, so check with a CPA, internet or financial advisor at your bank to find out the current rules.
Many companies offer selections which are limited in scope and earnings. The government is aware of 401k limitations and should make options more available. |
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Blackstroke
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If you are getting a match from you employer, you should still contribute enough to get the full match and put the rest in the IRA. Always take the free money first!! |
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derobake
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Legally you can. But, as is often the case, the rules of your employer are the real restricting factor.
A direct rollover will transfer your 401(k) to a Rollover (or Traditional) IRA, without incurring a taxable event. The IRS allows you to do this at any time, regardless of your employment status.
However, most employers don't want their employees doing this while currently employed. It's a hassle for them to keep rolling over money at periodic intervals. And really, they did all the legwork setting the 401(k) up and don't want to see the money go elsewhere.
In most cases, you will have to quit, retire, become disabled, or get fired to get your money out of a 401(k) and into a Rollover IRA. I do not recommend the latter two. Contact your company's plan to see if they allow rollovers for current employees. If so, consider yourself lucky. Me ... I am stuck with my 403(b) until I quit or am fired from my job.
If you are not satisfied with your 401(k) options, you can do the following. Contribute enough to get all your employer's co-contributions. Then, any money beyond this can be stuck into a Roth or Traditional IRA that you set up yoursef, up to $4000 contributions in 2007. If you want to contribute even more money, then put that in the 401(k) or start a low-cost variable annuity from Vanguard or Fidelity. This all depends on how much costs the funds are in your 401(k). In other words, you do not have to put all your retirement money in your 401(k), especially if you are not contributing more than $15,500 in 2007. Get your employer's match and then reroute some of your contributions to an IRA of your choosing. |
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Thin Kaboudit
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Only if you change jobs, your company gets purchased, or you retire or get fired. |
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shamieya
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yes you can; its called a rollover IRA. |
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Sophiesmama
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If you are still on the job, you should ask your employer if you can take money out of your 401K without a penalty, even if you are moving it to an IRA. If you can't, then stop your 401K deductions from your paycheck and when you have enough to put in an IRA, open up a new IRA account at your financial institution. |
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vangorn2000
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The answer is yes, but only to certain types of IRA, and only under certain conditions. You can't, for instance, transfer it to a Roth IRA. But I know to SEP IRA is ok, I just recently left my old job and transferred my 401(k) balance to a SEP IRA, and didn't pay anything for the transfer. You only pay taxes and penalties if the money actually comes into your possession in a cashable form, like a check; a direct rollover like this is not taxable or subject to the penalties. But you have to fill out the right forms to do it.
I would contact your nearest financial institution and ask to speak to their finance rep and let them know what you want to do.
Usually it's best to keep just one IRA account of this nature, otherwise you're paying two sets of admin fees. The only reason I had two accounts to begin with was because I work freelance in addition to a regular job and receive a lot of untaxed income during the year from it, some of which I was able to put into my SEP IRA to avoid a huge tax bill at the end of the fiscal year...and I kept the money in the job 401(k) account because of the employer matching program where they just gave me more money for free, a percentage based on your contributions. |
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ruca80
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As long as you are still employed by the company where your 401k is at, you cannot move money out of it into an IRA. You need what's called a "separation of service": quitting, getting fired, etc. Some employers offer what is called an "in-service withdrawal" where you can take 10% of your 401k and move into another retirement plan. Not all employers offer it, so you should check with your HR department and/or whoever administers your 401k plan. I apologize for all of the wrong advice you were given in the answers before mine. |
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gregory_dittman
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Open up an IRA and give the 401K manager the information to roll it over to the IRA account. |
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