I’ve been doing a few calculations – figuring out how much it costs, per month, to fully-fund various retirement accounts. 401(k) and 403(b) plans – (Contribution limits are for those under 50. Certain plans offer ‘catchup contributions’ for those over 50.) Contribution limits for 2008 – $15,500 Contributions can be made for income earned January 1st until December 31st of…
Author: NCN
What I Have Learned From Watching Television Shopping Networks
A few nights ago, I couldn’t fall asleep. So, I got out of bed and did a little ‘channel surfing’. Between reruns of Sports Center and The Andy Griffith Show, I spent a few hours watching a couple of ‘television shopping networks’. Now, I’m hooked. Not on the products – but on the way that the products are presented and…
Questions And Answers About Debt Reduction – Should I Cash Out My 401(k) To Pay Off Debt
Should I Cash Out My 401(k) To Pay Off Debt? Under most circumstances, if you cash out your 401(k), you will have to pay federal, state, and local income tax. You will also owe an early withdrawal penalty – 10% – if you are under the age of 59 1/2. In almost every case, for every $100 dollars you withdraw,…