KC
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Unless you're 59 1/2 you should roll it over in to an IRA. Otherwise the taxes and penalties will be devastating. At some point in 2007 you need to start learning about long-term investing. Learn about Mutual Funds. Once you have an understanding of investing, then you should proceed with picking good investments. |
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robert w
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first you open an IRA , then have the money rolled over directly to that ira. do not touch the money you can lose up to 40% of it.
visit daveramsey.com to learn what bankers pray you never ever learn about your money. |
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XOXOXOXO
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The best way is to manage your own money, not rely on a broker or other disinterested party. If you are not confident of your own ability then try a good but safe and aggressive fund ---I'm a college professor and have my money in t he TIAA-CREFF fund...and I put most of my money in the TIAA part of the fund (a little more aggressive, making a little more money) ---Scott Trade is the best online, do-it-yourself way to invest with the lowest fees for trading. Go to the bookstore and read up on investing basics...as I said, a disinterested party will let your money go down in value without even making a phone call to you, best to learn a little, stay conservative and try to invest it yourself. |
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barry_robbins_98
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I think if you put it into an IRA you won't have to pay taxes. Investing it into a CD or real estate may mean you have to pay taxes. If you want to buy real estate you could always put the money into an IRA and then buy a REIT stock (real estate investment trusts). These are stocks that just own real estate. Here is a portfolio of REIT stocks:
http://www.top10traders.com/ViewPortfolio.aspx?userID=565
This is from http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors.
I think whatever you do, you should probably make an appointment with an accountant, just to make sure you don't incur a taxable withdrawal.
Good luck! |
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Stan
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It depends on your level of investment expertize and risk tolerance.Since it is 401k, it will probably have to roll over. Ask a CPA! As to what to roll into you could consider rolling into another account of what ever fund it is in. Or Find you self a Financial Guru that 1. You trust, and 2, you DON'T PAY. It depends on your age, If you are 65 or 25 it makes a great deal of difference. Young means you can assume more risk. Close to retirement means usually LOW risk. |
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normobrian
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If a 401k is cashed out before retirement, there will be a 40% tax and penalty. If $10,000 is the amount in the 401k right now, you will only get $6,000.
I'm not sure about divorce settlement situations, but I would guess that your best bet to avoid the penalty is to roll it into your own 401k. Like I said, I don't know if moving the cash to another person (you) will affect the penalty or not, but I would talk to a financial planner first. It would be worth one or two hundred dolars to save $4,000.
For the best advice, go to www.daveramsey.com and click on ELP (endorsed local provider). You won't find a more trustworthy advisor than one from Dave's site. (he doesn't get a dime from the providers he endorses) |
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americansugar80
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cd, even if you cant take it out for amount of time, its worth it, never did it but am thinking about it. |
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Hitsugaya_Titzen
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I would put it on a stock company. If possible and u dont know that much, u should buy stock which no one knows about yet it is vital, such as a plastics shop. Evry1 needs plastic for somthing and that is how people get rich. they buy unknown small companies stocks.
i got this off a expert. |
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stock.expert
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Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions.
http://investing.sitesled.com/
I am sure that you can get your answers in this website.
Good Luck and Best Wishes! |
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ibooyah2006
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well, you might also consider investing in stocks. See http://ibooyah.com for ideas on which stocks to consider. good luck. |
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