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A 403(b) plan can be beneficial for a first-time home buyer because it allows them to save for a down payment on a home while also saving for retirement. Contributions to a 403(b) plan are made on a pre-tax basis, which can lower taxable income and potentially increase the amount saved. Additionally, some 403(b) plans allow for penalty-free withdrawals for first-time home purchases, providing a way to access funds for a down payment without incurring early withdrawal penalties.
What else can I help you with?
What are the benefits of a 403b retirement plan?
There are not any special benefits of a 403B retirement plan when compared to the more familiar 401K retirement plan. The only difference is that if your work for the government or are in a civil service type job the retirement plan is called 403B.
Is there any way I can transfer my 403B into money market?
There are many ways to transfer 403B into money market
Can I use my 403b to buy a house?
No, you cannot use your 403b retirement account to directly buy a house.
Can you cash out your 403b?
You can cash out your 403b, but expect tax penalties of up to 30% if you are under the age of 59 1/2.
What is the maximum 403b contribution for 2009?
According to "My Money Blog" the maximum amount for a 403b increases to $16,500 for 2009. http://www.mymoneyblog.com/archives/2009/01/2009-401k-403b-maximum-salary-contribution-limits.html
What are the benefits of a 403b retirement plan?
There are not any special benefits of a 403B retirement plan when compared to the more familiar 401K retirement plan. The only difference is that if your work for the government or are in a civil service type job the retirement plan is called 403B.
How do you close a 403B account?
can i close my 403b account
Is there any way I can transfer my 403B into money market?
There are many ways to transfer 403B into money market
Can I use my 403b to buy a house?
No, you cannot use your 403b retirement account to directly buy a house.
Can you cash out your 403b?
You can cash out your 403b, but expect tax penalties of up to 30% if you are under the age of 59 1/2.
What is the maximum 403b contribution for 2009?
According to "My Money Blog" the maximum amount for a 403b increases to $16,500 for 2009. http://www.mymoneyblog.com/archives/2009/01/2009-401k-403b-maximum-salary-contribution-limits.html
How can I cash out my 403b?
by asking for it! by asking for it! by asking for it!
Does Utah law allow 403b plans?
no.
What is the maximum 403b contribution for 2011?
17,500
What is the max contribution for 403B 2013?
17000
Can I use my 403b retirement savings to buy a house?
No, you cannot use your 403b retirement savings to buy a house without facing penalties and taxes.
How does a 403b retirement plan differ from a 401(k) plan?
It is always good to have a retirement plan you need to first decide what you want,this site http://www.nationwide.com/403b-retirement-plans.jsp will tell you about a 403b plan which differs from a 401k plan which is usually offered by your company.
