julez
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Keep it in the 401K. If you changed jobs, transfer it to the new job's 401K program. If you try to cash it out, you wont get that full amount because the tax will take alot. |
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WAL
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leave it alone if you try to take it out they tax you I think 15% of the amount. Leave it for retirement there may be no so sercuity |
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Officer Friendly
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Keep it in there and keep adding to it. Or, if you leave the place where you were working, you can roll it into a new one at a new employer or even into an IRA with a brokerage firm.
DO NOT cash it out because if you do you'll have to pay taxes and penalties up the wazoo. |
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Mom with a Misson
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KEEP IT....if you are only 20 yrs old then you will not get social security and you will need the 401K when you retire. Good for you for starting the 401K, keep building on top of it and you will be glad you did |
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Michael P
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Leave it alone & put more on top of that. Learn about investing a bit & find out what different types of things you can invest in within the 401k. I'm not sure if you can buy stocks or not but you should at least be able to choose mutual funds you like. |
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Mitchell C
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save it, it will grow, my father has a 401k and it started out small, now hes got alot, im not gonna say how much, its personal, i tell you one thing it is though 6 figures |
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ryan t
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give them all 2 me :I im kidding well maybe invest it in something. or just save it up. |
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billy
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Your 401K is your retirement tool that can pay off big time. It is good to start young. Put money in the account every year. When you want to retire at 55, you will be real glad your put a few extra dollars away so young. |
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kearneyconsulting
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I suggest putting it in Vanguard Star mutual fund for good diversification and probable long-term gains. Vanguard is a no-load low cost company with a good record.
Good luck. |
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Rick B
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You should leave it where it is. You should not do anything with it.
It should be invested (along with your contributions each pay period) into a diversified portfolio of mainly stocks. I would split it between large cap, small cap, and mid cap domestic stocks. I'd also put a portion in international.
At your age, I would be ALL in stocks. |
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kapn
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Leave it there.........add 25% to it every year if you can........then when your my age........60..........you can retire without a care in the world............. |
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stephaopi_1999
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Leave it and add money to it unless you're REALLY desperate because you will get killed in taxes. |
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slklein1957
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You have a good start, but try not to touch it untill you are ready to retire, cause you will have to pay tax penalties for early withdrawal. Keep on building on it. |
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ctown
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Leave it in there for now. If your employer matches what you put in, then it's FREE MONEY.
If you plan to stay with that company for a long time, leave it in there for a few years and then re-evaluate when you hit $10,000. At $10K, you will have more options.
401(k) is good if you don't know anything about investing or the stock market. It's low risk, but also low reward. Just keep that in mind. |
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greeneyeddevil
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If you are only 20, are you in college? Save it add more to it for retirement or house or nice car. Especialy if you dont need it right now it might come in handy if something was to happen. think of it as YOUR little nest egg that no one can touch. Save it for something special in the future. Cause you never know when you might need something like that. Im in my mid 30s and had a 401k that i cashed out and just blew when i was 25 and i sure do wish i would have saved it. |
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Darlene A
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i have 401k too. what the heck is it. |
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