Questions tagged [401k]

GeishaGrace Sun Oct 06 2024 | 5 answers 1109

Hello, I'm curious about the possibility of transferring my 401k retirement savings into my checking account. Could you please explain the process and any potential implications or restrictions that might apply? I'm interested in understanding the tax consequences and whether there are any penalties involved. Additionally, I'd like to know if there are any alternative options or investment vehicles that might be more suitable for my financial goals. Thank you for your help.

DigitalDuke Tue Oct 01 2024 | 6 answers 913

I understand that you're considering the possibility of cancelling your 401k plan and cashing out while still being employed. But before you make any decisions, I have to ask - are you aware of the potential consequences of such an action? Could you elaborate on your reasons for wanting to cancel your 401k? And have you considered the tax implications and penalties that come with early withdrawal? It's important to weigh all the pros and cons before making a final decision.

KpopMelody Sun Sep 29 2024 | 6 answers 1337

Hello there, I'm curious about withdrawing funds from my 401k plan. Specifically, I'm wondering if it's possible to withdraw 100% of my 401k balance? Are there any restrictions or penalties associated with doing so? Could you please explain the process and any potential consequences of withdrawing the full amount? Thank you for your time and assistance.

Maria Wed Sep 25 2024 | 0 answers 0

If you're interested in checking the fees associated with your Fidelity 401k plan, there are a few steps you can take to do so. First, you'll need to log in to your online account. From there, you should be able to navigate to the "My Account" section, where you'll find an overview of your plan. Look for a section that outlines the fees and expenses associated with your plan. This might include management fees, administrative fees, and other charges. If you have trouble finding this information, you can also reach out to Fidelity's customer service team for assistance. They should be able to provide you with a detailed breakdown of the fees associated with your plan. It's important to keep in mind that the fees associated with your 401k plan can have a significant impact on your overall retirement savings. High fees can eat into your returns and reduce the amount of money you have available to retire on. So, it's worth taking the time to understand the fees associated with your plan and to shop around for options that offer lower fees.

SejongWisdomKeeperElite Tue Sep 24 2024 | 5 answers 1180

Can you clarify for me who exactly is responsible for paying the fees associated with a company's 401k plan? Is it the employee, the employer, or a combination of both? Additionally, are there any specific types of fees that one party may be responsible for paying over the other? Understanding the breakdown of these costs is crucial for making informed decisions about retirement planning.