What should i do with my 401k if i change my job? i don't want to cash it out now.?
Answers: You should cash it in and spend it on a trip to Las Vegas. Gambling and strippers is the way to go.
Depends on the plan and your next employer.
Some 401K plans will let you leave it, or you can roll it over into a new 401K, or roll it into an IRA.
You can:
a. Keep it in the old plan IF the old plan allows that.
b. Roll it into a new plan IF the new plan allows that.
c. Roll it into an IRA with a custodian of your choice.
roll it over
I did this in 2006 opend up a tax free acct with Smith Barnery. I am 50 so no risk for me. I made over $10,000 last year. Nice return.
if you change jobs, roll it over into their 401k plan.this way, you won't lose any money, and hopefully they match what you put in.I rolled mine over to an IRA, and it's more difficult to put money into it..
As all these people are talking about IRAs, keep in mind the maximum contributions you can make per year is $5000. So if you're making decent money, you might want to choose a different option (like an individual brokerage account.)
If its over $5,000 you can leave it in the old 401k plan for as long as you like. But for tracking purposes you may wish to roll it over into your new plan (most allow this) or into an IRA. Some prefer to keep it seperate in an IRA, however unlike 401ks you cannot take loans from, something to keep in mind.
Also, if you keep it in the old plan remember you have to monitor the old company. Things could happen like it goes out of business, or it changes 401k plans (example: from Fidelity to Smith Barney etc) I say roll it into your new 401k plan, if not, roll it into an IRA. Also, if it's under $5000 hurry up, they can cash you out within 90 days I think.
I have some extra money right now. And I want to know should I invest it in RRSP's or put it toward my loan
Answers: if it will help with taxes go with the rrsp and use the tax savings to pay off the loan -- that way you have your cake and eat it too!!
This is more a personal preference than anything else
One strategy is to invest in an RRSP, take the tax refund and apply it to loan.
Factors to consider
1) Interest rate on loan vs what you can earn in RRSP. If is say credit card, trash the balance first
2.) How much you will have in RRSP and what other resources will be when you retire. If it is only income and you will not have more than $150,000 when you start to draw it down, trash the loan
3) How comfortable are you with debt. If it is worrisome, trash the loan.
4.) How certain are your future cash flows. If your earned income fluctuates wildly from year to year and you have a high tax rate this year. invest in RRSP
5) How long will it take to pay off loan? If it is a mortgage, pay it down first.
6) If you have funds (say 200K in RRSP ) and a similar mortgage amount you might consider self directed RRSP holding your own mortgage. Be aware though there are charges and fees involved.
7) What is debt for? Vacations clothes etc. pay the loan
For investments contribute to RRSP
Lie in the region of age on paypal?
Ever done it? I really need one its not to actully buy from onlineshops or ebay but via Livejournal society sell things and i would similar to to buy stuff but its paypal only :/Answers: the other issue is the paypal agreement is rightfully binding. There may be significant legal repercussions if you flop on a legal agreement.
If you're not of age you cannot enter into a legitimate agreement unless your parent co-signs or you have be emancipated.
do not do it -- if your parents will not open an information for you wait until you are legally recognized!!