 How can i make £2000 in 1 mounth ? |
| I need £2000 in 4 weeks time i have calculated that i have £500 worth of stuff to sell on ebay but i need the rest plz tell me how.... |
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 How to earn money? |
Ok I need some ideas to earn money for clothes! I don't know what to do.
****and how do you get rid of big fat hips??****
xoxo,
Kayla
Additional Details
I�... |
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 What company is the best to re-mortgage through? UK only please? |
| Our current deal has ended through Northern Rock, We where going to re-new our mortgage through them but now I dont know! we havre tried sending infomation to them 6 times they still dont revice it ... |
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 How to become rich? |
| I work as a wireman and only have certificate.... |
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 Should it be easy for a couple to live on $15,000 a year? |
| My husband and I are in college and we make around $15,000 a year. It has been really hard for me to save money and not resort to using our credit card. We aren't any more than $200 dollars in ... |
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 I want to get rich, how do i do this? |
| I am 21, I have a good full time job making decent money, but i want to be one of those people who can retire at like 30. I always see ads on tv about like people who make like 20,000 in like a month.... |
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 Is it ok to have car payments? |
| If necessary, are car payments ok? If so, what percentage of your income should be for that type of debt? What should I shoot to stay below?... |
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 What happens to a 401k account when you decide to leave a company? |
| how easy is it for the company to just keep the money? I am about to leave a company and have no idea how to handle this. Its not a lot of money, but i swear in the past i've had 401ks' ... |
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 Do you think my friend tried to scam me? |
| I have a friend, who recently rented a house with her husband of one year. Beforehand, they barely could afford anything, and constantly asked me for ridiculous amounts of money. ($300 here, $500 ... |
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 I need to make money FAST by tonight!? |
I need some money to go shopping for tomorrow, I dont have a paper route and can't do any chores for my parents:|
I'm 13 by the way (:
THANKS, and i need help fast!... |
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 If you got a lot of money now, What will you do? |
1. Working for people
2. Become self employed
3. Become an investor
4. Become an business man
5. Do nothing
6. Further study
7. hobby
8. Philanthropy
9. ... |
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 Are the rich really going to get richer, or will it have a 'knock on effect'? |
| If i can't afford something then i do without. I can't afford to drive a car anymore, too expensive. I just buy the basics at the food store. Don't smoke ... |
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 I received a text message saying ive been approved for £450 loan but i never recall applying for one? |
| the company's called adv who i've never heard of and if i did want a loan i would usually only apply at my bank any ideas what i should ... |
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Saml J | I want to withdraw my retirement early to pay off major bills.? |
Is it worth it since IRS automatically takes 20% and the state takes 5% of less than 12k total savings? |
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Giggly Giraffe
 |
Interesting part about retirment money is that the government/ collectors CANNOT force you to take a distribution. Should you file for bankrupcy, you can keep these assets. This is because the USA wants you to have retirement $ that you control ... do you really think social security will be there 4 u???
When you willing take the money out of your own accord, well, yes a 10% premature distibution penalty is added ... the $12,000.00 will be added to your normal salary ... so if you have a yearly salary of $40,000.00 you will now be taxed at $52,000.00 and may have to pay more taxes.
Ok, so you have $12 K ... this really does grow into serious money ... so your throwing away more than the taxes you are paying. You're throwing away growth opportunity.
Now, ask yourself, are the major bills worth it? It may be if you're talking about keeping "Equity" in your property --- but the equity should be 3 times more ($36,000.00) than the amount you want distributed from your retirement account. It would be stupid over things like jet skii's or cars. |
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taketwo
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speak to the financial adviser |
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Scott F
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Very bad idea, VERY bad idea. Just Don't Do It. |
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CMass Stan
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I think you just answered your question.
Let's start w/ $12k. Subtract 10% ($1200), which is the IRS penalty for withdrawing from your 401k or Traditional IRA w/o moving it to another retirement acct.
That leaves $10,800. Subtract another 20% ($2,160) for federal and state income taxes. Now all you have left is $8,640. Far cry from $12,000.
In addition, you'll be losing future earnings off that $12,000. And hopefully you won't be running up major bills anytime soon afterwards. If you do, it's back to square one, less $12000+ pre-tax.
Rule of thumb says you leave your retirement money where it is and find other sources to raise the money to pay off the debt. If you do cannibalize your retirement, make sure you're willing to live w/ the consequences. |
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mariaprunty@sbcglobal.net
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no, it is not worth it. I do not recommend doing that. Haven't you worked hard to save that money? Take a loan froma bank instead (if you qualify for it), then you will just have one bill to pay each month (to the bank). I did that, and it worked great. Good luck. |
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bestanswer
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Check out the tax implications before you proceed. How much tax you have to pay will depend on your income.That is what the withholding is for - to cover the federal and state taxes that will be due. If the money was put into the account "before taxes", you will have to pay taxes on every thing you take out plus a 10% penalty.
Another consideration is the interest rate on the money that you owe. |
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kamhk1
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How much are your major bills?
What will you use when you retire?
Put the money in a better investment than the retirement investment. |
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Patrick L
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What should be the best for you to do is depending on your personal situation. Check out www.quarantz.com They offer free personal financial plans implementing all that you want and need. Send them an email with details and they can probably help you figure out how to solve a debt(problem) and leave your retirement plan intact. |
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surelynotme
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The money in your retirement account hasn't been taxed yet, so of course you have to pay taxes on it if you withdraw it. But the government will also take a 10% penalty, so you have to decide if throwing away 10% of your retirement savings in order to pay your bills is the right thing to do. |
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I ♥ AUG
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How old are you? How much do you already have in your retirement account? How much would you need to take out?
Hard to answer your question without knowing more details, but in general it's a really, REALLY bad idea to withdraw money from your retirement account early. I would try to find some other way if I were you. |
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acid tongue
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declare bamcrupty and keep your retirement in tact, they cannot attack it you know |
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