Retirement plans and company stock.

[Geno]

..anyone involved in this type.of thing that does well. Apparently.my company has a decent stock that has been tetering lately nut never drops much. Its like 220 a share currently. But id get a discount because i work here. Like 15% or some shit not sure. Ive never gotten involved in this sort of thing cause child support sucks me dry. But ive been seriously thinking about my future and i know if i dont start puti g something towards it i will be as good as dead as basically and have nothing to live off.

In a couple.months ill get anoyher 2 dollar raise and i think that will be the time to invest in this stuff. Any of you do well in this area? I have absolutely no idea how to work this stuff at all. Pretty pethetic at 36yrs old. Smh

[~RustyGunZ~]

All depends on the company. My uncle worked for a factory that does stuff for ford and some other companies and got only stock as his retirement plan. I thought that sounded fucked but he was willing to wait out on selling it a year or so and hit a good day.

Company he worked for his up and down too. I think that's most factory centered places though. Lay offs and shit.

I've only dealt with like actual retirement funds though, to avoid taxes and fees I rolled it into my sons 529 when I left there.

[Geno]

I just know i need to make a move. What u did with ur son sounds smart

[~RustyGunZ~]

Originally Posted by Genocide

I just know i need to make a move. What u did with ur son sounds smart

do they offer retirement plans outside of company stock? i'd look into that and go aggressive since you don't have an immediate family to support ATM

if just there stock iono, it would be hard for me to put money into the pot I got it out of lol

and i'm not sure how that would work with selling shares. there's gotta be rules to it, like if you get it cheaper you can't just buy it and flip it right then for insta 15% profit but @Diode or @Aero might have more insight on that

[Exis]

15% seems little tbh...then again I don't know your occupation?

[Geno]

Ya idk man. I mean im sure they got other shit. 401k is obviously available option. I just havnt paid much mind. Just now getting the itch to to start doing something about it but idk. Ill have to ask around at work and see who knows what. I mean there are some.people who came here with nothing and have retired as millionaires basically cause they did it right. But they obviously had bought a ton of stock over the years. Some people have been working here 30+years and havnt retired yet. Idk i never understand wtf people are talking about when it comes this shit. The lingo. The numbers everythi g just sounds alien cause i never been involved in anything concerning the topic. Anyhow just thought id see how people here have made out with these type.of things. Ik the stock here is a good option and people have a ton of money there sitting on. But they started back when it was under 100 or less a share and now its more than doubled so obv they have a big payback when there rdy. Thats about all i understand about the shit. Idk how 401k even works. I mean i get the basic ideas and shit. I just never been good at throwing money at something that doesnt produce immediate results. Its sketchy to me

[uh-oh]

i never looked into any of this shit either. never understood it really, i mean i understand the basic ideas of trading and shit but its never really seemed like something to do. i'd rather bet sports or something i can wrap my head around.

but i mean there is always n-vesting. where you invest in controversies of the n-word. papa john says the n-word, prices drop, buy in because its a giant corporation that still has 1000's of stores, no change in production blah blah, sell the next day or so when the prices normalize. profit.

but you need money to throw around

im still waiting on the new ownership to roll out the 401k plans but its slow going. i thought about opening a roth IRA but haven't yet. thats basically a retirement account you pay into without paying taxes on it until you withdraw it. i think there are penalties associated with it if you withdraw anything before you are 59. which is why i havent messed with one yet

im shit at saving money so i opened an acorns account. its an app for your phone that collects the spare change from all your transactions. i don't use cash anymore so its been racking up for me since its linked to my card/paypal. also you can set up recurring deposits and just deposit money wherever. the only downside is you don't pick what you are investing in. but its a simple investing account, you choose from different "portfolios" which basically are like safe, which is alot of bonds and other shit that ain't gonna get a ton of money but aren't as volatile, and aggressive which is alot of stocks and shit. which im using. but varying degrees from safe to aggressive

im basically just using it as a savings account i forget exists because its not actually a savings account with my bank. i got it set up to take 100 a week, plus all the change from my transactions. figure i'll wait a decade and see whats in there. but with a regular investing account i can take it out whenever

think its 1 dollar a month to have it. but word

i don't know any of this shit either. im still new to having a good paying job and too prone to blowing my money.

[Amen]

You're idiots if you don't invest in 401K.

Regardless of the company match, it's free money on the table that you are walking away from.

Just saying.

It's never too late.

[Diode]

company stocks have a vesting period before you can sell

[Mr. Faggot]

Originally Posted by Exis

15% seems little tbh...then again I don't know your occupation?

Please leave all your money in a bank....if you let ppl disrespect ya seed in your face. ...u clearly are to soft to carry money around

[Exis]

Get off my dick...