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<blockquote data-quote="PiedmontSteward" data-source="post: 1095822" data-attributes="member: 42270"><p>Pretty convenient this thread got bumped, because I've been looking into 401k contribution and need some advice..</p><p></p><p>Quite frankly, I can't afford to contribute much. I'm part time and I gross about $400/week, which results in a net of ~$300-315 after taxes, union dues, and DRIVE. After rent, gas, food, etc, there's not a whole lot left over and I've only recently started putting a little to the side in savings. I'd like to start now so I'm at least ahead of the game when and if I go full time. I can really only afford to contribute maybe ~2-3%/week, which is on the pitiful side. But it's never too early to start; I've got a few years before I even hit 30. </p><p></p><p>However, I have some questions:</p><p></p><p>If I contribute to the Teamsters/UPS 401k plan, I'm assuming that money is <strong>not</strong> portable/cannot be contributed to if I break employment from UPS in the next 5-10 years? I don't want to contribute to a fund before I go FT in case a "dream job" comes on my radar (very unlikely, but expect the unexpected..)</p><p></p><p>If I contribute to a Roth 401k, that money is pre-taxed and portable, correct?</p></blockquote><p></p>
[QUOTE="PiedmontSteward, post: 1095822, member: 42270"] Pretty convenient this thread got bumped, because I've been looking into 401k contribution and need some advice.. Quite frankly, I can't afford to contribute much. I'm part time and I gross about $400/week, which results in a net of ~$300-315 after taxes, union dues, and DRIVE. After rent, gas, food, etc, there's not a whole lot left over and I've only recently started putting a little to the side in savings. I'd like to start now so I'm at least ahead of the game when and if I go full time. I can really only afford to contribute maybe ~2-3%/week, which is on the pitiful side. But it's never too early to start; I've got a few years before I even hit 30. However, I have some questions: If I contribute to the Teamsters/UPS 401k plan, I'm assuming that money is [B]not[/B] portable/cannot be contributed to if I break employment from UPS in the next 5-10 years? I don't want to contribute to a fund before I go FT in case a "dream job" comes on my radar (very unlikely, but expect the unexpected..) If I contribute to a Roth 401k, that money is pre-taxed and portable, correct? [/QUOTE]
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