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View Full Version : Money, money, money!

SouthCaliDiva
02-02-2005, 11:36 AM
Profit Sharing is a beautiful thing!
zuriyahe
02-02-2005, 11:48 AM
Damn!
.
.
.
.
but what does it mean?
SouthCaliDiva
02-02-2005, 11:56 AM
It means my company has just dropped $1,944 into my 401k. Theoretically, FREE MONEY, for contributing to the successful operation of the firm!!!!! And I'm over 5 years, so I'm fully vested. I can quit tomorrow and take that $1,944 with me.
zuriyahe
02-02-2005, 12:03 PM
Now that is sweeeeeeeeeeeeeeeet! This is why we need to do 401Ks mah sistah!

Good job!
que90nek
02-02-2005, 12:09 PM
this isnt 40 dollars for the year is it?

don't mean to get in to your personal business...but uh....
SouthCaliDiva
02-02-2005, 01:22 PM
this isnt 40 dollars for the year is it?

don't mean to get in to your personal business...but uh....
LOL, yes and no. I had suspended my payroll deductions while paying down my debt. I just restarted them in January 05. I already have a nice 5-figure pad in my 401k, so it didn't make sense to continue it (even though I had a nice 7% return) when I was paying anywhere between 10% and 24% for various consumer credit accounts. Next quarter*, I'll increase the deduction an additional few percent. By the end of the year, I should be at the recommended 10%.






*We are only allowed to make changes to our deduction percentage once per quarter, even though we can mess with the distribution whenever we like.
que90nek
02-02-2005, 02:27 PM
oh ok...

i was just tryna figure out how much you COULD have gotten......

whoa.
SouthCaliDiva
02-02-2005, 03:20 PM
Okay, you've got my curiosity up. I have to go look. :D


Edit:
Looks like it's a percentage of compensation, not a percentage of what I've contributed during the year. Which, come to think of it, makes sense, because I know someone in another office who has never done payroll deductions, but has a nice sized 401k account built entirely from profit sharing. Oh yeah, she's also been her for 16 years. :p
que90nek
02-02-2005, 04:21 PM
u guys seem to have an excellent 401k plan....

one that actually performs.

but ...don't expect that type of gain every year.
RockYoKoo
02-02-2005, 04:53 PM
u guys seem to have an excellent 401k plan....

one that actually performs.

but ...don't expect that type of gain every year.

As long as we are not in 9-11 mode things will go up. Interest rates are rising that means banks will pay out more interest on saving accounts. Therefore better returns all around, unless Bush does more STUPID shit.

Fa real fa real
que90nek
02-02-2005, 05:06 PM
well..he's about to talk about privatizing social security....

YIKES!
RockYoKoo
02-02-2005, 05:21 PM
well..he's about to talk about privatizing social security....

YIKES!

Oh he is gonna mess up, but it should not effect interest.

Rock