Archive for July 7th, 2008

What’s a good 401K allocation mix for these current times for a 45 year old person?

Monday, July 7th, 2008
401k
Emily Dew asked:

We recently got a new 401K and need to decide our allocation mix between large caps, foreign and bonds. Not sure if I should take the current economic situation into consideration or just stay the course. Thanks!


Question posted courtesy of: Bill
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Posted in Financial Planning | 4 Comments »

I have a 401K that is vested. I plan to go to India and cash it. How to do without paying much penalty and tax

Monday, July 7th, 2008
401k
Bala Gopalakrishnan asked:

I have a 401K that is vested for around 100000 US$ and I am allowed to take it after I leave the employer. I do plan to go back to India. Is it possible to take 15,000 $ per year and avoid paying federal and state taxes ( Since Iam out of country and not a resident + it falls with less income per annum). Is there a penalty that I have to pay while taking money out. I will have closed all my bank accounts except this IRA/401K account and so how would I pay the penalty and any taxes that might occur. Please advice.


Question posted courtesy of: Sylvia
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Posted in Financial Planning | 3 Comments »