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What is the average earning potential for a CPA?
Wow. Buzz-feed knows me so well…
anyone get their stimulus checks yet?
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Some people consider their Roth IRA as emergency fund - depends what you're invested in. You can withdraw contributions without penalty or tax.
No, your 401k is stuck at pwc until you terminate employment, unless you take a loan
You can check what you selected for PwC's 401k through the website. If it says pre tax - traditional IRA, post tax - Roth
IRA and 401k are separate investment vehicles (aka buckets). You can contribute $5500 to Roth or traditional IRA per calendar year in total. That's your Individual Retirement Account (hence IRA). Your 401k is sponsored by your employer. You can have a Roth 401k or traditional 401k depending on plan rules, determined by employer. It's most likely traditional. 401k has its own contribution limits.
Roth IRA is definitely not considered as an emergency fund (EF) EF are usually liquid assets saved in a savings account. As for your 401k not sure if it's already with Vanguard or not. Gotta clarify that for us.
Thanks RSM. So basically I have then two accounts: one from PwC and one from Vanguard. PwC account is general 401K+wealthbuilder, and Vanguard account I have is the Roth IRA.
And i dont think PWC account is aligned with Vanguard
Maybe when you saved enough into your EF (3-6 months worth first), but off the bat I wouldn't recommend.
There is no reason to move that money into your 401k. You'll have higher fees and fewer options.
I think you should contact benefits express. The whole point of having a Roth IRA is to withdraw funds when you need it. PwC's accounts are not aligned with vanguard. You will have to do all the transfers by yourself
Wow, thanks a bunch guys!
Yeah, i think i will then separate those account, hope i didnt exceed amount. Isn't 5,500 per year the limit for roth ira? I think vanguard account i already have almost-full in 2016.
So in theory, investment i made under Roth IRA in 2016 shouldnt exceed in total regardlessly the number of account?
I dont know my 401k at PwC is roth or regular ira..
@M1 this is very clear. Thanks!
You should be able to "roll over" any vested balance in a company 401k to your IRA regardless of whether your 401k and IRA are at the same institution.