401k question

Discussion in 'UPS Discussions' started by OKLABob, Sep 12, 2019.

  1. MECH-lift

    MECH-lift Union Brother

  2. Jkloc420

    Jkloc420 Well-Known Member

    You take the money out as a loan and you get a set amount of time to pay it back. The money you pay back comes directly out of your paycheck, plus you pay interest back on what you take out. If you quit your job then you have to report it on your taxes because the information is sent to the irs
     
  3. 5 years.
     
  4. Jkloc420

    Jkloc420 Well-Known Member

  5. Jkloc420

    Jkloc420 Well-Known Member

    perhaps
     
  6. That link I posted was from the Prudential website.
     
  7. Jkloc420

    Jkloc420 Well-Known Member

    i dont know because something dont sound right, he started at 18 is 23 now and only driving full time for two years. Now he is building a house but needs 401k money for closing cost etc. So his wife must have a good job
     
  8. He might not be able to borrow that much. It depends on how much you have in your 401k
     
  9. Jkloc420

    Jkloc420 Well-Known Member

    building a new house is not cheap
     
  10. No it's not. Definitely don't want to bury yourself in debt.
     
  11. GenericUsername

    GenericUsername Active Member

    Some of the builders down here require at least $50,000 down before they even will break ground on your house if you're planning on buying into a subdivision that's being built.
     
  12. Jkloc420

    Jkloc420 Well-Known Member

    pretty much
     
  13. burrheadd

    burrheadd KING Of GIFS

    You have to pay it off with interest
     
  14. Maple Grove MN Driver

    Maple Grove MN Driver Cocaine Mang!

    I sell on credit.
    Take 1/2 kilo and cut it 50/50 sell to stupid people and 1/2 Key for yourself
     
  15. Maple Grove MN Driver

    Maple Grove MN Driver Cocaine Mang!

    Thanks Dave Ramsey.

    Still makes your statement wrong.
     
  16. With after tax money!
     
  17. MyTripisCut

    MyTripisCut Dumpster, INABAG

    6F54F40E-5A5A-41DD-A316-C92453FB98B3.gif
     
  18. Off topic
    Post reported

    Yours too PAL
     
  19. MECH-lift

    MECH-lift Union Brother