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posted to rec.boats
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First recorded activity by BoatBanter: Aug 2009
Posts: 5,427
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Where does the Goldman Sachs money go??
"Bill McKee" wrote in message
news 
"nom=de=plume" wrote in message
...
"Bill McKee" wrote in message
m...
"Canuck57" wrote in message
...
On 26/04/2010 12:59 PM, nom=de=plume wrote:
wrote in message
...
On 25/04/2010 11:10 PM, wrote:
On Sun, 25 Apr 2010 21:18:39 -0600,
wrote:
On 25/04/2010 7:16 PM, wrote:
My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and
the
IRS will come after me.
Pray tell what is the $250K mark? Some penalties? And roll it
into
what? IRA? Capital gains amount??
If you make over $250k the Obama tax increases really smack you.
Rolling it to a IRA shouldn't be a big deal but my roll over wasn't
over
$250K so I didn't go there. But I don't remember any such limit.
The key
is making sure the money shows up in the IRA promptly.
If you have a tax pre person, this is a 1 minute question, I would
ask. I
suspect you can roll it over without issue.
Also need to consider vesting if some of it isn't yet vested. In
which
case just roll over the vested part.
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Socialism and statism are great as long as someone else pays for it.
Vesting? That only happens if the company does a match of some of the
money.
Some companies have instant vesting of 401K money. Others require some
sort
of wait.
Why would you be in a 401k if they didn't match? Why not a IRA then?
In an IRA you can self direct it better with a much more diverse set of
options. Hell, I transfered out of the US and left it open for 1 more
year just to vest before I rolled it over into an IRA. It was part of
the equasion.
--
Socialism and statism are great as long as someone else pays for it.
You could put more money in a 401k than an IRA would be one reason. And
watch what you invest the IRA in.
Maybe... there are Sep-IRAs, however.
--
Nom=de=Plume
Special Case. SEP == Self Employed Pension. If you do not have a
business, then no SEP.
Which is why I said "maybe." Oh wow... I have a business. I guess I know
something about it.
--
Nom=de=Plume
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