Retirement side hustle and tax right off

[olroadbeech]

My goal is to collect the pension longer than I worked for UPS. I think that is going to be easy as my people on both sides of the family lived into their nineties. My Dad collected his pension for 35 years.

 

[Off the leash]

okay. do what you want. I still have a lot of friends at the hub that i see.

ever thought of that .......jerk?

Do you think he’s a jerk? Or asking him for one?

 

[Off the leash]

My goal is to collect the pension longer than I worked for UPS. I think that is going to be easy as my people on both sides of the family lived into their nineties. My Dad collected his pension for 35 years.

Nice

 

[Off the leash]

The Union did restrict what kind of jobs a retiree could work. The idea being not to take a younger Union members job who could be paying into your pension. That was back before Reagan when most jobs were Union.

They still restrict them. If they don’t comply you can only work 80 hours a month. Even the geographical location matters!

 

[Lineandinitial]

okay. do what you want. I still have a lot of friends at the hub that i see.

ever thought of that .......jerk?

Hey....I'm just questioning what is clearly obvious..
A retired person that's been gone as long as you claim (in some cases) don't refer to where they used to work as "their Hub"...

It's funny that you call me a jerk....

I suppose I should return the comment and call you a dirty skank??

 

[olroadbeech]

Do you think he’s a jerk? Or asking him for one?

congrats. you just joined the lowest common denominator class at BC.

your mother will be so proud!!!

 

[IVE GOTTA PACKAGE 4U]

congrats. you just joined the lowest common denominator class at BC.

your mother will be so proud!!!

At least he is in a liar...

 

[Lineandinitial]

At least he is in a liar...

She/he's a "Happy Verified UPSer" or retired, or not retired, or retired, or not retired, or retired, or not retired......

"Verified" to be full of

 

[Brownslave688]

Just my personal opinion unless you have a health issue for some other life crisis you shouldn't need to take money from your retirement plan on your 55

That’s what it’s there for.

 

[IVE GOTTA PACKAGE 4U]

That’s what it’s there for.

55 is a little bit early to start withdrawing.
And depending on your state's rules you may have to pay income tax on it if you take a distribution before 59 1/2

 

[Brownslave688]

Hey....I'm just questioning what is clearly obvious..
A retired person that's been gone as long as you claim (in some cases) don't refer to where they used to work as "their Hub"...

It's funny that you call me a jerk....

I suppose I should return the comment and call you a dirty skank??

More holes in her story than a slice of Swiss

 

[Off the leash]

congrats. you just joined the lowest common denominator class at BC.

your mother will be so proud!!!

I know I am

 

[Off the leash]

congrats. you just joined the lowest common denominator class at BC.

your mother will be so proud!!!

And she’s dead anyway

 

[Lineandinitial]

55 is a little bit early to start withdrawing.
And depending on your state's rules you may have to pay income tax on it if you take a distribution before 59 1/2

If you are referring to a 401k, there's a 10% penalty on top of the Income Tax unless you prove some sort of Hardship.

 

[IVE GOTTA PACKAGE 4U]

If you are referring to a 401k, there's a 10% penalty on top of the Income Tax unless you prove some sort of Hardship.

That is incorrect. If you were tired from your employer in our 55 years of age and older you can withdraw from your 401k as long as you're not move it to an IRA

What Is the Rule of 55?

The rule of 55 is an IRS provision that allows individuals age 55 or older to withdraw funds from their 401(k) without penalty. Learn how the rule of 55 can impact you.

www.thebalance.com

 

[Lineandinitial]

That is incorrect. If you were tired from your employer in our 55 years of age and older you can withdraw from your 401k as long as you're not move it to an IRA

What Is the Rule of 55?

The rule of 55 is an IRS provision that allows individuals age 55 or older to withdraw funds from their 401(k) without penalty. Learn how the rule of 55 can impact you.

www.thebalance.com

OK, I thought the context was retirement and working versus not working.

 

[IVE GOTTA PACKAGE 4U]

OK, I thought the context was retirement and working versus not working.

I'm the saying there's a way to get your money out before 59 and a half without the penalty if you decide to retire early

 

[Jones]

That’s what it’s there for.

Unless your goal is to die with the most money..

 

[Off the leash]

congrats. you just joined the lowest common denominator class at BC.

your mother will be so proud!!!

Down here that’s a compliment

 

[What'dyabringmetoday???]

They still restrict them. If they don’t comply you can only work 80 hours a month. Even the geographical location matters!

It's not the same with each fund.