Almost 3 years at pwc and thinking to use 401k and wealth builder to buy my first home...can i use 100% of what I have matured? Will that be taxed? Thanks

helpfullike
Posting as :
works at
You are currently posting as works at

I thought you can do it as a self directed IRA (but only on investment property) Or you can take out a loan from yourself and pay yourself back in a certain amount of years without penalty.

like

You can take a loan - amount available for loan will be in the portal - you will have 5 years at very very little interest to pay it back

smart

Also this is only for 401k not wealth builded

like

Do not do that. You will be taxed on it and party a 10% penalty.

Ohhh so it can not be used even to buy a house? So when is the right moment to use it?

I think you can use 401k without penalty for a first time home purchase. You would still have to pay takes on whatever you withdrew (assuming contributions were pre-tax)

And you pay yourself interest!

How can I take a loan from myself??

If you have a roth you can take out any money you CONTRIBUTED to the plan. It was already taxed. However, if you pull out any earnings, you will be taxed. K bye

D1 thanks

You can take a loan out on your 401k and pay yourself interest however it won’t grow or compound until you pay it back.

Related Posts

If I have a six year old and 150k in a 529, can I say I’m done?

like

I am brand new to the process and keep hearing conflicting reports. Should I be waiting out the market? Or is this the perfect time to buy if you can? I don't trust all these realty sites telling me I should buy now.

like

How should one properly calculate total comp? Base + bonus + stock options? Should you only include options that vest that year or include the total $ granted that will vest over 4 years?

What are benefits like at Accenture?

My firm doesn’t match my 401k — still worth opting in?

like

Anyone from the Milan office of McKinsey that can share their experience in this particular region? Also interested in how does it compare to BCG in terms of environment, pressure and benefits.

like

Hi everyone, I'm knew here. I was wondering if anyone had any idea what salary are like at ViiV Healthcare? I'm considering applying for a role there. Thanks

like

Does anyone know who administers PWC’s 401k plan?

like

What are the bands at sigma healthcare

like

Any one know the fees associated with transferring between Vanguard target funds, 2065 to 2055 for example

like

For any of you real estate investors, what tools or sources did you learn from when getting started. Can’t find a mentor currently so want to find some highly recommended books or videos. If focused on the tri-state area (NY, NJ, Long Island mainly) that would be even better. My hope is to buy and rent out a apartment while also owning a house and house hacking that by renting part of it out. Trying to understand all the steps, traps, and how to find if it’s a good investment.

like

Hey fishes. I have been offered Management Consultant role with CTC break up in terms of JB, RB, fixed and variable. So is the fixed amount my gross salary without any other deduction except TDS, or will the organisation contribution to PF be also deducted from the fixed component? Also, will claimable components like LTA, mobile bill reimbursement etc. be in addition to this fixed component or will they be included in it?

Does anyone have any book recommendations for information on buying a house?

like

For any real estate investors

22 years old and currently focused on using my left over income to invest and pay off my debt. I am set to pay off my college loans by next year and, when I do, I want to look into investing into real estate. Does anyone have any suggestions on how to get into/learn more about real estate investing? Or how I can have enough knowledge on the topic to be able to invest wisely when the time comes?

Any books? youtubers? etc. How did you all learn about it?

like

Been looking forward to the stock market to come back to earth for a long time. What should I buy

like

Can anyone recommend a lawyer to write up a prenup?

like

To take advantage of the next big economic downturn, should I set up a Robinhood or Charles Schwab account?

likehelpful

What will be in hand for the below after-tax deduction?

Post Photo
like

Are there any tax benefits from working from home?

like

More Posts

Good day everyone

Looking for discounts codes for Best Westerns and/or Accor Hotels in Europe.
Can’t find any in my company
Thanks !

like

Hi fishes, I recently joined Accenture, I am from manual testing background and they put me into monitoring team where we need to analyse errors looking at codes, logs and resolve it and the KT that is being given to me doesnt feel enough when I raised concern to TL, TL itself is blaming it on me that I qm not able to understand what is being taught, I am not able to work in the project at all, I requested for roll off within a month, will this imact my career at accenture? someone please sugges

like

Happy diwali 😂

Post Photo
funnylike

1) Hypothetically if you were looking to sabotage a colleague, can you code an excel document to throw off their numbers or calculations, (if you send them that document and they download it for use)?

like

Morning! Being laid off sux, I been down this road 5x in my career it never bets easier.

Dust off contacts and make your rounds
* if you’re in a good position to take time off do some, seems we all need a mental break anyway

likeuplifting

Hi,

can someone highlight as how much we can expect for band 8 with 14.6 yrs exp as a security professional.

like

What’s the difference between a manager and supervisor position ?

like

Any one here from HCL Bangalore working DBS project as a L2 Enginner?

like

What's the review process for firms. I have people getting rejected but I haven't heard anything. Is it interviews, offers, rejections? Or is it review/ interview and rejections then offers.

like

Anybody knows about Uplers company post for Salesforce administrator.
They have shared an imocha assessment link to complete. Any idea how this assessment will be, video exam ? Or what type of questions can we expect?Uplers

like

Can someone please help me with calculation net pay from this attached schedule.

Post Photo
like

Hi All,
Good day!

I'm planning to search for a job in foreign countries but I have some questions in my mind...
1. What would be my minimum salary
Please be noted that I'm spending 1.5L -1.8L pm for my family expenditures (family of 2) with the similar way of expenditure how much should I earn?
2. Which country would provide better opportunities to Bigdata Engineer?
3. Is it better to stay in India with 21LPA or should I consider relocation to other countries?

Thanks in Advance!!

like

What are the main factors folks are considering as they make a decision? Solely ranking, money, just curious! Got into two T20 that are very different but see myself at both.

like

What do other meteorologists in the private sector get paid? And what kind of work, generally, do you do?

Living in a HCOL area, with 10 yrs Meteorology experience and another 10 years scientific experience.

like

What is the average incentive given to a Consultant in Cognizant with a 4/5 YEA rating?

Where do people go for vintage pieces? I heard there's a nice watch community out in Hong Kong but wondering where people look/go for some older not-in-production models.

like

Hi
What opportunities are available for someone with a background in sustainability (Masters degree) and around 1 and 1/2 YOE

like

EY and Guidehouse federal fish, how does using PTO factor into your utilization score? Does it count against you like at Deloitte or do those hours get removed from the denominator before calculation?

like

Daily Dordle #0005 4&6/7
⬜🟨⬜⬜🟩 ⬜🟨⬜⬜⬜
⬜⬜🟩⬜🟨 ⬜⬜🟨🟨🟩
🟩🟨🟩🟨🟩 🟨⬜🟨⬜⬜
🟩🟩🟩🟩🟩 🟨⬜🟨⬜⬜
⬛⬛⬛⬛⬛ 🟩🟩⬜🟨⬜
⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

Anyone playing Dordle?

likehelpful

Daily Quordle 76
9️⃣7️⃣
5️⃣4️⃣
quordle.com
⬜⬜⬜🟩⬜ ⬜⬜🟩⬜🟩
⬜⬜⬜🟩⬜ ⬜⬜🟩⬜⬜
⬜⬜⬜🟩⬜ 🟨⬜🟩⬜⬜
⬜⬜⬜🟩⬜ 🟨⬜🟩⬜⬜
⬜⬜⬜⬜⬜ ⬜⬜⬜🟩🟩
⬜🟨⬜⬜⬜ ⬜⬜🟩🟩🟩
⬜🟩⬜⬜⬜ 🟩🟩🟩🟩🟩
🟩🟩⬜🟩🟩 ⬛⬛⬛⬛⬛
🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

🟨🟨⬜⬜🟩 ⬜⬜🟩🟩⬜
⬜⬜⬜⬜⬜ ⬜⬜🟩🟩⬜
🟨⬜⬜⬜⬜ 🟩⬜🟩🟩🟩
🟨⬜⬜⬜⬜ 🟩🟩🟩🟩🟩
🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

Additional Posts in Employee Benefits

Is there a minimum period you have to be working at kpmg in order to start looking to explore internal moves - from client facing to internal specifically ?

like

How common is it for a firm to contribute to an HSA on an employee’s behalf, and what is the largest contribution you’ve seen that an employer gives?

like

How come I have to pay $116 out of pocket for my dental exam and cleaning? Is this covered by your firm’s dental coverage plan?

likehelpful

Deloitte 🐠🐟 in the DC area, which health plan do you recommend? I'm with Kaiser and it was a huge mistake. I'm looking to switch for 2020!

What is EYs 401k match? I am going to interview and found lots of benefits info online but could not find match or best. Thank you.

like

Does any firm reimburse for part time MBA ? Thinking of applying for Booth part time MBA

Please tell me about the benefits of the Deloitte Corporate AmEx. Thanks!

How do I qualify for phone bill reimbursement at KPMG? Do I need to put my work email on my phone?

like

Any EY folks with questions and answers on IVF or Pathways to Parenthood benefits before Annual Enrollment period ends???

like

Does Boston Consulting Group have the following?
- HSA
- After tax contributions to 401k w/ in plan Roth conversion

I’m joining in a few weeks and doing some planning on how to adjust my existing accounts/strategy.

Thanks!

like

How does the pre-tax parking benefit work at kpmg? There isn't much detail on ssc or benefits connection but it seems like it is on the honor system vs a separate account like FSA?

Any insight to PwC tuition reimbursement?

like

Anyone ever asked for a sign on bonus in the form of vacation days - so you don’t have to wait like 6 months in order to take 2weeks? Or ask for reduced pay at first to accelerate the accrual?

How many PTO/personal days do we get when we become managers?

Any insider knowledge of EY modifying the frequent traveler program policy now that most travel will be reduced?

like

PwC dudes and dudettes, how do we all fee about the recent weight management benefit? Haven’t looked into that much it yet but it seems to be pretty useful.

like

Who has the best parental leave policies? Need advice

like

EY, what is the current maternity leave policy? Does the firm allow leave starting at 38 weeks? Is disability (6-8 weeks) separate from parental leave (16 weeks)? When is full eligibility - after 12 months of employment?

like

When you finally got your CPA license how much has your salary jumped ?

like

PwC 🐠 - health insurance coverage. What are the deductibles for the high-deductible plans? Still want to use the HSA. Thanks!

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal