sistawendy: me in a Gorey vamp costume looking up (skeptic coy Gorey tilted down)
I've sloshed from one 401(k) to the other, and rolled over the one from the pre-acquisition company. As of this morning I can now borrow a down payment from my 401(k), right up to the IRS-dictated limit of $50K. There's just one thing standing in the way: I'm waiting for the direct deposit setup to complete, which should happen in five days.

OK, so I get to start house hunting next month instead of this one. I'm OK with that.

Also this morning, I talked to an investment advisor at Fidelity, which is complementary if you've invested enough. It turns out that I'm a little aggressive for my age (ha) but not scarily far out of line. The smaller, newer 401(k) is made to rebalance away from equities as I get older anyway, which is usually a good thing.

The young, broish-sounding advisor dude had a tip for avoiding taxes in about five years based on an unusual feature the older 401(k): net unrealized appreciation, or NUA. (?!) Uh, maybe I'll do that if I remember?

That phone call was kind of an out-of-body experience. It was something one of Them would do, and I don't want to be one of Them. But these days, owning a home would make me one of Them, wouldn't it? Le sigh.

Date: 2022-02-26 04:27 am (UTC)From: [personal profile] basefinder
basefinder: (Default)
Thanks... I'll bolt awake at 0200 realizing I have no idea what NUA means. LOL!

I put my retirement account into one of the balanced/adjusts over the years funds; the 2030 fund would be more appropriate but I'm taking a bit more risk in the 2040 fund. Even though I might* retire as early as 2026.

* based on several factors including (unfortunately) the stock market.

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sistawendy: a head shot of me smiling, taken in front of Canlis for a 2021 KUOW article (Default)
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