Have you ever quit a job without anything lined up?

[Tribal Outkast]

When I was in high school lol

 

[Cryptocurrency Scarface]

All the time if a job sucks it sucks

 

[Cryptocurrency Scarface]

sign up to gig work and don’t have kids

 

[Alvin]

This is why I'm happy I took my 401k seriously when I hit my mid 20s. Hardships and etc it comes in clutch to be able to take a loan out on your own money when you need. But 401k loans don't apply when you quit unless you withdraw but just speaking general

what happens with your 401k when you quit/resign anyway? They send you a check or?

 

[hatealot]

what happens with your 401k when you quit/resign anyway? They send you a check or?

When you quit you have an option to rollover or transfer to your next jobs 401k with no penalties.

If you cash out, you are going to get hit with a early withdrawal penalty , they will then tax it on the federal level. Essentially you are throwing alot of money away on penalties and fees. I wouldn't advise this unless you really need the money, like really need the money. Also I believe it's treated as income at that point so you may have other taxes you will owe as well

 

[Peter Popoff]

Link to this forum

I'll post it when I get a new job. I can't burn bridges yet.

 

[maxamusa]

nah man; bills don't stop. Can't move on emotion out here

 

[null]

yes. from 6-figure gigs when the situation called for it.

 

[Alvin]

When you quit you have an option to rollover or transfer to your next jobs 401k with no penalties.

If you cash out, you are going to get hit with a early withdrawal penalty , they will then tax it on the federal level. Essentially you are throwing alot of money away on penalties and fees. I wouldn't advise this unless you really need the money, like really need the money. Also I believe it's treated as income at that point so you may have other taxes you will owe as well

let's say I don't find a job for a month, the money just sits and doesn't accrue interest or lose anything and then once I find a job I roll it offer into that 401K?

 

[hatealot]

let's say I don't find a job for a month, the money just sits and doesn't accrue interest or lose anything and then once I find a job I roll it offer into that 401K?

If you leave it, after a certain period they charge you the mgmt fees. Your employer is paying the mgmt fees for you as part of your employment. You have to look into your 401k plan details on how it works. Everyone's plan rules are different. Login into your 401k and start researching, they have a section of what if scenarios for reading to educate you

 

[acri1]

When I was in high school/college working bullshyt minimum wage jobs I did it once or twice. Wouldn't now though.

 

[Formerly Black Trash]

How you have beef with your boss at help desk?

 

[patscorpio]

Yup.....and it was liberating...I had a new job within the week though

 

[Guile]

All the damn time

 

[Volt]

Bills don't care if your job sucks.

I'm hella pissed at my current one, but I'm going to tough it out until I've secured another bag.