anon in idaho asked:

Just how does one start a 401K if you work at Wal-Mart? Do you need a specific amount to start with? Does Wal-Mart match dollars invested or do anything special with 401K’s there to make them larger or not?


Question posted courtesy of: Melanie

whatda asked:

So, if I intend to leave my current company in a year & move my 401K into another 401K or IRA option, does it make sense to just keep everything in a money market fund? Would I have to stay with the same funds for 5 or more years to reap any benefits from the stock market? Thanks.


Question posted courtesy of: Darlene

Matthew F asked:

When looking at my 401k statement, there is an “Earnings” section and a “Appreciation/Depreciation” section. What is the difference?


Question posted courtesy of: Tina

chemist asked:

I am planning on working for a couple of years before going to school for a regular MBA. Can I contribute to my 401k plan now and withdraw it without penalty to fund my college tuition? Or is it better to take the tax hit now, rather than take the penalty later ?


Question posted courtesy of: Aaron

QP asked:

I have recently changed jobs and would like to know if the annual limit still applies to my 401K.

For example, year to date I’ve contributed $10K to my previous employer’s 401K plan. Does this mea my 401K contribution for the year with the new employer should be less than 5.5K?

Thanks!


Question posted courtesy of: Claudia

zonagal43 asked:

Hi all! My son’s girlfriend is only 19 and her company has a 401k program. She was told that she can not contribute until she is 21. They live in Illinois. Does anyone know if there are age restrictions on beginning a 401K?

Thanks in advance for your answers!


Question posted courtesy of: Yolanda

chemist asked:

I am planning to work in my current position for two years and then go to school for a full time MBA graduate degree. Can I contribute to my company’s 401k plan now and then withdraw the amount after 2 years to fund my college expenses without being subjected to the additional 10% penalty ? For this to happen, do I have to roll over the 401k savings to an IRA first, and then make the withdrawal for college expenses ? Are there any expenses involved in this process ?


Question posted courtesy of: Pauline

cluelessblue asked:

My mom said her 401K was getting smaller and smaller and she is not sure why. So she was told to cash it in. Is that the right thing to do?


Question posted courtesy of: Brent

Donna S asked:

I know I can use a loan from my 401k towards the down payment. If I have some money left over from the 401k after that, can I use the rest for the closing costs?


Question posted courtesy of: Chris

soulravah asked:

………..

I have money invested in my 401K.

If I get fired from work, what kind of taxes will I owe if I need to access my 401K for funds, while looking for a new job?

Thanks!


Question posted courtesy of: Gertrude