What can I do with my 401k when I quit?

[OrionsBitch]

Quitting already? Just like 2 weeks ago you said you were here to stay. Put your name on the driver list then Man up, take glucosamine, drink protein shakes, get good sleep, and make book. After that, you're on your way to 100k a year.

What other opportunities do you have? Unless you plan on going to school and gaining some college debt.

Classic UPS sheep mentality....yes drivers are paid well, but there are plenty, plenty!!!! Of jobs that pay much more with better vacation/sick days, benefits, hours etc. Not to mention more interesting work. Not to mention these jobs are typically much easier in your body. You just have to make sure you go to school for the right subject.

 

[Richard Cranium]

I've got about 3k in it at the moment and am leaving next week. Does it just stay there or do I have any options to roll it over to a new 401k or ira?

Can you take hehe xd with you bruh.

 

[Tom MacDonald]

Classic UPS sheep mentality....yes drivers are paid well, but there are plenty, plenty!!!! Of jobs that pay much more with better vacation/sick days, benefits, hours etc. Not to mention more interesting work. Not to mention these jobs are typically much easier in your body. You just have to make sure you go to school for the right subject.

 

[IVE GOTTA PACKAGE 4U]

Classic UPS sheep mentality....yes drivers are paid well, but there are plenty, plenty!!!! Of jobs that pay much more with better vacation/sick days, benefits, hours etc. Not to mention more interesting work. Not to mention these jobs are typically much easier in your body. You just have to make sure you go to school for the right subject.

And i know plenty of people that work very hard a get far less.

 

[Matty_lawn]

Can you take hehe xd with you bruh.

Don't act like you won't miss me bruh

 

[Re-Raise]

My Nephew went to 6 months of lineman school in Arizona. After that he had like 6 years of paid apprenticeship training all over the country. Now he pulls in close to 50 bucks an hour in Ar.. At the moment he is in a motel in Alabama with 3 other buddies ready to make the charge into Florida after Irma blows through and get power back up. Even our local elect. coop sent down 3 boom trucks all the way from here.

I don't understand how everyone is complaining about being away from their families as a driver, but celebrate the job your nephew has chosen? It sounds like he has a profitable career, but we are home with our wife and kids every night.

 

[Staydryitsraining]

Got a job with the state. Union contract, paid benefits like your beloved UPS, 15 sick days a year, 7-3 with overtime after 8 hours, pension, 2 weeks vacation after a year, and start making several dollars per hour more than a first year driver.

What city offers that?

 

[Benben]

How much would that 3k grow to be in 30 years?

Multiple studies have shown that putting $5,000 in at the age of 20, not touching it and not adding to it: just "let it ride," yields a little over $1 million at age 64.

 

[IVE GOTTA PACKAGE 4U]

Multiple studies have shown that putting $5,000 in at the age of 20, not touching it and not adding to it: just "let it ride," yields a little over $1 million at age 64.

The power of compounding. Unfortunately when you ate making the least in your career, it's harder to save.

 

[scratch]

I have a question about our 401. I'm 59, could I take out a few thousand for a home improvement project without having to pay it back? I don't want to loan myself money. I couldn't find a quick answer to this on the Prudential site.

 

[IVE GOTTA PACKAGE 4U]

I have a question about our 401. I'm 59, could I take out a few thousand for a home improvement project without having to pay it back? I don't want to loan myself money. I couldn't find a quick answer to this on the Prudential site.

If you was retired, yes. Just need to be 59 and a half.
Unfortunately our plan dies not allow in service withdrawls.

 

[oldngray]

I have a question about our 401. I'm 59, could I take out a few thousand for a home improvement project without having to pay it back? I don't want to loan myself money. I couldn't find a quick answer to this on the Prudential site.

I think you can withdraw without penalty if you are 59 1/2.

 

[oldngray]

If you was retired, yes. Just need to be 59 and a half.
Unfortunately our plan dies not allow in service withdrawls.

The plan sucks.

 

[oldngray]

I have a question about our 401. I'm 59, could I take out a few thousand for a home improvement project without having to pay it back? I don't want to loan myself money. I couldn't find a quick answer to this on the Prudential site.

You don't want a loan but I think it would be interest free if you go that way.

 

[IVE GOTTA PACKAGE 4U]

The plan sucks.

Sorta, but it's for the best. It's a retirement plan not a piggy bank.

 

[IVE GOTTA PACKAGE 4U]

You don't want a loan but I think it would be interest free if you go that way.

$100 application fee plus you pay interest around prime rate. The interest goes back into your account bit you ate basically paying extra taxes on it.

He should just turn his 401k down to 1% and Dave the extra money for home improvements.

 

[scratch]

I'm sticking 20% of my paycheck into it now, its in six figures and is doing well. I thought somebody posted that you could take up to $5K out a year after a certain age without paying it back. I don't have an emergency, I'm just getting home improvements out of the way before I retire. I need to finish replacing windows and some flooring. I want everything done and be completely debt free when I do decide to retire.

 

[Matty_lawn]

Let's make this thread all about me again

 

[IVE GOTTA PACKAGE 4U]

I'm sticking 20% of my paycheck into it now, its in six figures and is doing well. I thought somebody posted that you could take up to $5K out a year after a certain age without paying it back. I don't have an emergency, I'm just getting home improvements out of the way before I retire. I need to finish replacing windows and some flooring. I want everything done and be completely debt free when I do decide to retire.

No loophole that i know of.

 

[oldngray]

I'm sticking 20% of my paycheck into it now, its in six figures and is doing well. I thought somebody posted that you could take up to $5K out a year after a certain age without paying it back. I don't have an emergency, I'm just getting home improvements out of the way before I retire. I need to finish replacing windows and some flooring. I want everything done and be completely debt free when I do decide to retire.

When I retired I didn't touch my 401k (other than rollover in IRA) but had some cash in a money market account I used to make some home improvements. Then I could be debt free and not have to worry about the house. Other than unplanned emergencies that is.