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Q: What does RPSS mean ifor traditional 401k?
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What does SPLN DED mean on your pay slip?

Did you take a loan against a retirement plan (e.g. 401k)? If so, this is likely the automatic repayment.


Never Touch Your 401k Retirement Plan?

When something big comes up, such as the need for a new car, you may be tempted to use the money in your 401k retirement plan to pay for it. This is possible, but it is not wise. For one thing, you will have to pay certain fees and penalties because you are not using the money in the way that you said you would when you started the plan. This will also mean that you will have the gratification of a new purchase quickly, but you will not have enough money to retire comfortable in the long run.


Is 401k considered a pension plan?

I don't mean to be snide...but it depends on whose asking! Honestly, different places define things differently. In some general speak it is a pension plan...but in many others, it is a retirement plan as differentiated from a pension plan.


401K Withdrawal?

Are you thinking about withdrawing money from a 401k you might have? If so, you might consider the consequences of withdrawing that money first. There are many fees and penalties that you have to pay if you take out the money too early. Another consequence to think about is how early withdrawal from a retirement fund will impact your future.You Have To Pay Income TaxAny money that you get in a given year is subject to an income tax. When it comes to taking money out of your 401k policy, you have to pay the same tax you would pay on any other income. So, if you were in the 15 percent tax bracket, you would have to pay 15 percent of that income in taxes. A 10,000 dollar withdrawal would mean paying 1,500 dollars in taxes.10 Percent Penalty On Early Withdrawals


What a credit score of 650 mean?

It means you have a score a little below average and in the "fair" to "less than fair" range. Obtaining some types of credit may be difficult. Traditional lenders may not accept that score and alternative or specialty lenders may be required.