Questions tagged [401k]

mia_harrison_painter Thu Sep 05 2024 | 5 answers 747

Could you please elaborate on the advantages and disadvantages of leaving money in a 401k plan after retirement? Are there any tax implications or penalties that retirees should be aware of if they decide to keep their funds invested in their 401k? Additionally, how does this decision compare to rolling over the funds into an IRA or another retirement account? Are there any specific scenarios where it would be more beneficial to keep the money in a 401k post-retirement? Thank you for your insights.

CryptoChieftain Thu Sep 05 2024 | 5 answers 873

Hello there, I'm curious about retirement planning and have a question for you. As someone who is approaching 55 years old, how much should I ideally have saved in my 401k account by this age? Is there a general rule of thumb or a specific benchmark that financial experts recommend aiming for? Additionally, are there any factors that I should consider when determining the ideal amount, such as my current income, lifestyle expenses, or expected retirement timeline? Thank you for your insight.

mia_rose_lawyer Wed Sep 04 2024 | 7 answers 1156

I'm curious about understanding the fees associated with a 401k plan. Can you explain what a normal 401k fee might look like, and what factors can influence its amount? Are there any hidden fees that investors should be aware of? Also, is it possible to negotiate or reduce these fees in any way?

GeishaMelody Wed Sep 04 2024 | 7 answers 1413

Excuse me, could you clarify what you mean by "401k 10% fee"? As far as I understand, 401k plans are retirement savings accounts that employees can contribute to, and these plans often have administrative fees or expense ratios associated with them. However, I'm not aware of a universal "10% fee" that applies to all 401k plans. Could you be referring to a specific plan or scenario where a 10% fee is charged? If so, could you provide more context or details about the situation?

DongdaemunTrendsetterStyle Wed Sep 04 2024 | 6 answers 1682

Are you concerned that the fees associated with your 401k plan may be eating away at your retirement savings? It's a valid concern, as these fees can add up over time and significantly impact the growth of your investments. Have you taken the time to review the fees associated with your 401k plan and compare them to other options available to you? It's important to understand the impact that these fees can have on your long-term financial goals and to make informed decisions about your retirement savings.