401k Teamsters withdrawals

[Coldworld]

No way am I working until 70

Aren’t you close to that already?? Might as well work the 9 months so you can retire at 70...

 

[Coldworld]

I work 3 days a week. If I’m lucky only 2.

What building are you working in this month??

 

[IVE GOTTA PACKAGE 4U]

Aren’t you close to that already?? Might as well work the 9 months so you can retire at 70...

SOB

 

[Coldworld]

SOB

How’s work??? You finally get your legs back under you from the long vacation???

 

[Trailer monkey]

I have to admit, I'm a little confused as to the purpose of the after-tax option. Would like some clarity on this.

For me it's an easy way to build a cash reserve, it takes about a week to get a check from it, which is good, I would not want to be able to access it with a debit card. I use it only for extreme situations. Of course you do have to pay taxes on any interest earned on it, but there is no penalty

 

[SameRightsForAll]

I work in the Oklahoma City Hub and am in the southern region supplement. Does anyone know about taking money out of a 401k early. I had my truck repossessed this past Friday and was wondering if borrowing from my 401k to get it back was an option. I’m going to call the union hall Tuesday, but was looking for any info in the meantime. Been with UPS for 8 years as part time package handler.

The IRS doesn't consider starving or needing a vehicle for work as hardships. Even if you need money for your kids' college tuition, the chances of the college complying with the ridiculous requirements by Prudential that go beyond what the IRS requires, is slim to none. You'll suffer financially while your money sits and earns interest for the government but certainly not for you.

 

[DriveInDriveOut]

The IRS doesn't consider starving or needing a vehicle for work as hardships. Even if you need money for your kids' college tuition, the chances of the college complying with the ridiculous requirements by Prudential that go beyond what the IRS requires, is slim to none. You'll suffer financially while your money sits and earns interest for the government but certainly not for you.

The government doesn't get any interest from your 401k. The entire point of a 401k is so they get less of your money, not more.

This guy is a prime example of why the strict withdrawal rules exist. Some people need to be protected from their own stupidity.

 

[1989]

What building are you working in this month??

Will have to check my calendar

 

[IVE GOTTA PACKAGE 4U]

The IRS doesn't consider starving or needing a vehicle for work as hardships. Even if you need money for your kids' college tuition, the chances of the college complying with the ridiculous requirements by Prudential that go beyond what the IRS requires, is slim to none. You'll suffer financially while your money sits and earns interest for the government but certainly not for you.

That's why you have an emergency fund.
Why doesn't anybody understand this?

 

[Coldworld]

That's why you have an emergency fund.
Why doesn't anybody understand this?

Ok dave.....Ramsey...smmfh!!

 

[Coldworld]

That's why you have an emergency fund.
Why doesn't anybody understand this?

Perhaps....

 

[1989]

What building are you working in this month??

Working in 2 buildings until October 5.
Then vacation the rest of the month. Will have to remember to sign up on the transfer list before I go.

 

[1989]

That's why you have an emergency fund.
Why doesn't anybody understand this?

Why can’t I use the funds in other IRS eligible investments? What a waste. Plus they charge fees? and a scam.

 

[Coldworld]

Working in 2 buildings until October 5.
Then vacation the rest of the month. Will have to remember to sign up on the transfer list before I go.

Lol oh brother

 

[CoffeeStainedUniform]

Lol not drugs or police issue. Had the truck for almost 5 years, but we just got stretched too thin finically recently. Things are back on track now, I just don’t have the money currently to pay to get it back.

I'm sorry for the tight spot you're in. You'll always be jumping from one tight spot to another until you bite the bullet and stop trying to find an easy way out.

You need to let this truck go, get you a cheap little thing and work your ass off at 2 jobs till you can clean up your mess. Start doing a budget and decide today, that you're only going to make smart decisions with money from now on. I wish you the best of luck, I'm sure everyone else does too.

 

[DriveInDriveOut]

I'm sorry for the tight spot you're in. You'll always be jumping from one tight spot to another until you bite the bullet and stop trying to find an easy way out.

You need to let this truck go, get you a cheap little thing and work your ass off at 2 jobs till you can clean up your mess. Start doing a budget and decide today, that you're only going to make smart decisions with money from now on. I wish you the best of luck, I'm sure everyone else does too.

 

[CoffeeStainedUniform]

View attachment 211787

I don't agree with everything he says but a lot of it makes sense. What did I say you disagree with?

 

[DriveInDriveOut]

I don't agree with everything he says but a lot of it makes sense. What did I say you disagree with?

Relax. I'm not disagreeing.

Ramsey is the Maury Povich of the financial self help world. I enjoy listening to all the screw ups who call in to his show, but truth is he's just another guy trying to sell you something.

 

[IVE GOTTA PACKAGE 4U]

H

Relax. I'm not disagreeing.

Ramsey is the Maury Povich of the financial self help world. I enjoy listening to all the screw ups who call in to his show, but truth is he's just another guy trying to sell you something.

He is annoying