410K BULLSHIT

[FUZO]

SO MY COMPANY GAVE US A LOT OF STOCK IN MY 401K NOW I NEED SOME OF IT. WELL I CANT GET IT UNLESS I

1-YOU NEED TO QUIT
2-YOU NEED TO RETIRE
3-YOU NEED TO DIE

NOW SINCE I'M ON WORKMANS COMP I CANT EVEN BORROW FROM IT BECAUSE I'M NOT A ACTIVE EMPLOYER RIGHT NOW. AND IF I COULD BORROW FROM IT WHY THE **** DO I HAVE TO PAY IT BACK.

FU--ING USELESS

[NATE]

Re: 410K BULLSHIT

Always read the fineprint....

[supasaiyan99]

Re: 410K BULLSHIT

That's how it is at most companies! It sucks!!!

[daved150]

Re: 410K BULLSHIT

THAT SUX BRO...I AGREE WITH YOU, THEY DO SUCK

[angryoldman]

Re: 410K BULLSHIT

SO MY COMPANY GAVE US A LOT OF STOCK IN MY 401K NOW I NEED SOME OF IT. WELL I CANT GET IT UNLESS I

1-YOU NEED TO QUIT
2-YOU NEED TO RETIRE
3-YOU NEED TO DIE

NOW SINCE I'M ON WORKMANS COMP I CANT EVEN BORROW FROM IT BECAUSE I'M NOT A ACTIVE EMPLOYER RIGHT NOW. AND IF I COULD BORROW FROM IT WHY THE **** DO I HAVE TO PAY IT BACK.

FU--ING USELESS

You may not be able to get to your stock, but you should still be able to get to your 401K. If you have been putting money in your 401K, and the company has been matching you with company stock, you should still be entitled to your principal. Unless your company is owned by a bunch of arabs or something funky. But from what I understand and have always seen, you are entitled to your principal. With a nice penalty and taxes of course!

[daved150]

Re: 410K BULLSHIT

You may not be able to get to your stock, but you should still be able to get to your 401K. If you have been putting money in your 401K, and the company has been matching you with company stock, you should still be entitled to your principal. Unless your company is owned by a bunch of arabs or something funky. But from what I understand and have always seen, you are entitled to your principal. With a nice penalty and taxes of course!

YA KNOW...YOUR RIGHT. ALL THE 401K'S I'VE BEEN IN, I'VE HAD ACCESS TO MY DOUGH...JUST NOT THE MATCHING DOUGH..

[Waterboy]

Re: 410K BULLSHIT

AOM is correct. You should have access to the money you put in.
But if I remember correctly, there is a 40% penality for taxes!!

[Stout1]

Re: 410K BULLSHIT

AOM is correct. You should have access to the money you put in.
But if I remember correctly, there is a 40% penality for taxes!!

Sounds right to me.

[lxorl]

Re: 410K BULLSHIT

always a catch....

sorry to hear about it fuzo

[T-Man007]

Re: 410K BULLSHIT

Even if you could get it, it would cost you an arm and a leg. IMO, you'd be better off getting a home equity line of credit or borrow money against your car. That way you don't have to pay taxes and you can get a decent interest rate.

[Skarn]

Re: 410K BULLSHIT

Even if you could get it, it would cost you an arm and a leg. IMO, you'd be better off getting a home equity line of credit or borrow money against your car. That way you don't have to pay taxes and you can get a decent interest rate.

Bingo! A 401k is THE best investment for your retirement period. It's all tax deferred and it's the one thing that will be guaranteed to be there when you retire. If you don't max at least your employers contributions, you are wasting money.

Skarn

[angryoldman]

Re: 410K BULLSHIT

Bingo! It's all tax deferred

Correct. In other words, you get phuqued later on when you want to take your money out. "Tax deferred" is a fancy government term for "We phuque you later in life, when you need it most!"

[Skarn]

Re: 410K BULLSHIT

Correct. In other words, you get phuqued later on when you want to take your money out. "Tax deferred" is a fancy government term for "We phuque you later in life, when you need it most!"

Bro, you got it all wrong. You aren't getting Phucked later in life...later in life you will be in a much lower tax bracket (the majority of us) and thus you end up paying much less taxes on it when you really need it. I mean, nothing is a free ride, we have to pay taxes eventually on it!

Skarn

[angryoldman]

Re: 410K BULLSHIT

Bro, you got it all wrong. You aren't getting Phucked later in life...later in life you will be in a much lower tax bracket (the majority of us) and thus you end up paying much less taxes on it when you really need it. I mean, nothing is a free ride, we have to pay taxes eventually on it!

Skarn

Not if you have a roth 401K. It works the same exact way as a Roth IRA. Pay your taxes going in, then get your money tax free when you need it.
And the difference between the 2 is amazing. If you were to put $2000 a year away in a Roth for the next 30 years at a 5% interest rate, you would walk away with $69,439.
If you were to do the same exact thing with a traditional, $2000 a year for 30 years at 5%, even at a 30% tax bracket, you would walk away with $47,913.
Amazing difference.
How the phuque did we get started on this?