It's a Gas

[cyrano]

My AltaVista 401K is going away. No surprise there, I expect. Vanguard wants to know what I want to do with my money--find another 401K, put it in an IRA, or take the money and pay the 20% tax on it. I'm leaning toward 'take the money and run' at the moment.

More travel update:

23 Feb--leave for SLC from work.

* If I can get a ride to work from somebody that would be handy. Otherwise, CalTrain.
* Anybody headed to Seattle for the wedding who can take my suit would also be appreciated.

24 Feb--SLC to IDA on the earliest flight.

* Not much in formal plans--it's IDA. See the parents. Enjoy the pastoral scene. Have the dogs bark at me.

26 Feb--SLC to PDX on the earliest connections manageable. Planning to arrive around nine in the morning.

* Will probably rent a car. Crash with Jess.
* Trip to Powell's pretty definite in there.
* Dinner at Chang's on the 28th, would love to see Jess, Kia and Luana there with or without children.

28 Feb--After dinner, up to Olympia to meet Sage and re-meet Z.

29 Feb--In the morning, drive up to Seattle.

* Wedding in the evening of the 29th.
* People to possibly see: Larry, Kira, James, Kirby, Soula.

01 Mar--Flight on Alaska back to San Jose.

02 Mar--General Election and working at the polling station at Chrittenden.

03 Mar--Back to work, you!

Comments

[kirbyk.livejournal.com]

The 29th seems to be a Sunday. (But it's February 29th. They're all tricksy - some years, they never even show up at all. So, you can never be sure.)

I'll keep my calendar open in the hopes of some sort of afternoon social entertainment.

Commercial plug

[mallen.livejournal.com]

I'd seriously think about taking the money from your 401k.

It gets hit with a 10% penalty, plus there's any capital gains taxes (depending on where and how long your equity shares were held), plus the money is taxed as ordinary income on your state and federal return, so you're looking probably at losing at least 50% of the money in taxes.

I don't know how much you have socked away, but if you can hold off, rolling it into a new retirement account would eliminate all the taxes and depending on the account type, doesn't have to cost anything or very much.

[cyranocyrano.livejournal.com]

Vanguard said they'd be pulling 20% of it up front. Dunno what further tax penalties there would be on it. Right now it's about $8K and I /think/ Vanguard would set me up with an IRA if I asked them. Dunno what additional troubles that would cause.
I am, to some extent deliberately, ignorant of 'important' financial concerns. I'm trying not to let that kill me here.

[mallen.livejournal.com]

If you're comfortable with Vanguard as a management company, then I'd strongly encourage you to consider opening a regular (non-company related) retirement account (an IRA) with them and rolling your money over into that account so it'll continue to be tax sheltered.

I know you're all for wealth redistribution, but if you cash it out as you discussed, a hefty chunk is going into the Bush Junta/Iraq Death Machine, so in my opinion, you'd be wise to keep it for yourself at the moment.

I may be a Right Wing Death Beast, but I speak your lingo, comrade. ;-)