1wow, thank you for a reality check. That is awful.
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@ROrDK38-flh. You are wrong if you think you only get taxed at 30% total. I was laid off in a prior job and due to a financial crisis I had to withdraw all my funds. My brother, a CPA, kept telling me not to. I took out the $30k I had. First you pay a small fee to withdraw, then you have the option to pay taxes when you withdraw, both state and federal. So at this point you are already down 25-30%. That $30,000 is now $22,000. Ok, still a decent amount. Then you go and file you federal and state tax returns where you are not only hit with the 10% penalty, but even more taxes became that $30k pushed you to another tax bracket. Now instead of getting a nice little return, you owe in a few thousand. That $30k I took out was only $17k in the end plus I lost out on approximately $230k in investment earnings over the next 30 years.
Under two years you’re screwed. I will be 30 days short. Already talked to HR.
Roll it over, or keep it where it is, you can still keep it with Schwab
If you're 55 or older and are layed off you don't pay a penalty. I think you're vested in less than 2 years check with HR.
moving mine to my financial adviser at Wells Fargo as soon as i can
You must be with Humana for 2 years to be vested. You can get everything you personally put in before. They will tax the first 20% at the time you take and then on next years taxes you will owe another 10% of it unless you are 59 1/2 years old.
Only if you have been here long enough to be vested. Don't consider taking an early withdrawal unless it's critically necessary. After taxes and penalties you will only receive about 40%.:Not to mention a my future earnings in it