Formerly Black Trash
Philosopher, Connoisseur, Future Legend
Going to try to stay here while I finish school
Then once I get out cash out bby
Then once I get out cash out bby
Got my first job where I got a 401k
- Thread starter Formerly Black Trash
- Start date
Formerly Black Trash
Philosopher, Connoisseur, Future Legend
UncleTomFord15
Veteran
How old are you
What is this job
What is this job
You not cashing out shyt lil homie, you set your contributions to atleast a 5%, your 401k is transferable as you continue to work, so when you get fired/leave you can transfer over to your new job. The point is , long term retirement's account. They automatically put you in as a high risk investor , so more stocks, less bonds.
Don't treat your 401k as a savings account. Save your money as usual but do deductions automatically , you will get used to the deductions . Work for a few years and then you got a few thousands sitting .
Don't treat your 401k as a savings account. Save your money as usual but do deductions automatically , you will get used to the deductions . Work for a few years and then you got a few thousands sitting .
Formerly Black Trash
Philosopher, Connoisseur, Future Legend
I’m 29
Plan on having this job 4 years max
Going to up my contribution from 3 percent to 6
By the time I graduate and get a better gig I’ll use that bread to do something that counts
666 ReVeNGe 666
TROLL IS LIFE
29 and just starting a 401k?
Don't cash out.
I regret cashing mine out and I was only 23 and didn' even have a large 401k.
Now I upped my contribution and caught up
I know nikkas in their 40s who cashed out
They gone be struggling.
Formerly Black Trash
Philosopher, Connoisseur, Future Legend
29 and just starting a 401k?
Don't cash out.
I regret cashing mine out and I was only 23 and didn' even have a large 401k.
Now I upped my contribution and caught up
I know nikkas in their 40s who cashed out
They gone be struggling.
666 ReVeNGe 666
TROLL IS LIFE
Just build a separate savings account.... trust me you will not regret it bro.
You are starting your 401K relatively late and are planning to cash out already smh. General advice states that if you are making approximately 50K a year, at 30 years old you should have $25K stacked up.
Take yo ass to 6 Figures 6 Certs immediately.
R.E.N. Spells Ren
Veteran
How much does your employer match?
You should be putting in at least that amount. Get that free money.
NaijaProdigy Redux
Veteran
Cash out and incur penalties why?
Have:
- a 401K that you max out annually and hopefully your employer matches
- a high yield savings account @ Ally, for example
- a brokerage account
Have:
- a 401K that you max out annually and hopefully your employer matches
- a high yield savings account @ Ally, for example
- a brokerage account
What is the fukking job??
YamakaSmacker
Banned
Average union electrician is retiring with around 400k in their pension
Not to mention annuity
Before their ex wife does the Dougie from the back
Not to mention annuity
Before their ex wife does the Dougie from the back
the cac mamba
Veteran
put in the percentage that your employer matches, but no more. thats what i do
im 27, had the job for 5 years, and it has 25k in it