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I’ve always contributed enough to 401k to always get the company match. All of them have always done at least a 6% dollar for dollar.
The last place I worked was the best. They contributed 3% no matter what – even if I did zero. Then they matched 6% dollar for dollar. Then they matched the next 6% at 50%, so another 3% match.
I was contributing 12% of my check and the company was also contributing 12%! Needless to say I have quite a bit in that account.At my current company I’ve focused more on my HSA. I do the 6% to 401k to get my 6% match, then I contribute the federal max every year to my HSA.
My plan was to get my HSA up to a point that I have 3 years worth of out of pocket maximums, so I want a balance of $27000 (high deductible insurance is da sux). Once I get there I’ll dial it back a bit.The big benefit of keeping it in a 401k is that I can take out personal or home loans against my own money. I can do a loan up to 50% of the funds I have put in the 401k (you can’t borrow against the company contributions even if fully vested). If I rollover my old 401k’s, I’ll have access to quite a large pre-approved loan potential. The interest rate is 6.5%…but the real benefit is 100% of that interest goes right back into my 401k. The only fees I pay is a $35 establishment fee and then $3.75 maintenance fee per quarter. The loan terms can be as short as 1 month, and as long as 5 years.
While I wouldn’t plan on using a 401k loan, it would give me peace of mind to know I had that card in my back pocket in case of emergency. Obviously a 5 year large loan would be a terrible idea in a good market and only there for emergencies unless the ROI exceeded potential market gains on that money.
Having said that, having access to that kind of money in a potential recession “buyer’s market” with the knowledge I have now could allow me to start making investments.
Now as for IRA’s and more control. Yes an IRA will give me alot more control over where I can invest the money. You can also do a different kind of IRA rollover and go ahead and pay taxes on the money. Then it will be tax free when you access it in retirement.
I tinkered in the stock market one time when I was younger and lost. It felt like gambling, and I am NOT a gambler by any means. So I never messed with it again. Granted that experience was in penny stocks which really is like gambling. I don’t have alot of confidence in my ability to guess which stocks will be winners and I don’t have time to spend hours a day trying to figure it out. I kinda prefer the mindless balanced approach of a 401k, at least in this point in my life.Items in Store 1196
Items Sold 17
Total Sales $492.00
COGS $37.00
Total Profit $455.00
Average profit $26.76
Average sales price $28.94
New Listings 12Summer goal: I’m likely going to miss my goal by about $1k once the dust settles after this week. Still not too bad at all for the summer! I had some great weeks and a few terrible weeks.I did not list nearly as much as I had planned – I had a 4 week stretch where I didn’t really list anything and that really hurt my goal. But on the bright side I got busy and lost a bunch of weight. I’ll take that over $1k any day!
This week was kinda ‘meh’. Yard sales sucked, so it looks like I’m done scavenging other than occasional thrift trips for a while. That’s okay as I have tons of inventory to pull from.
On another note, I got the wild hair to access my two old 401K accounts this week to roll them into my current one. One of them I hadn’t checked on in almost 10 years, and the other it has been 4 years. Holy compound interest, Batman! It was nice to realize just how much I have in my 401k. Now the next dilemma though – should I roll them into my current 401k or roll them into an IRA and get serious about my portfolio? Any investment gurus here who can offer some advice to a newb?
Ughhhh….
Can’t wait for all the bugs that will jack up my store that ebay will claim don’t exist…08/27/2019 at 8:28 am in reply to: Where do the hot Q4 toys start actually getting discussed? #66877Yeah I watched a video on youtube of an amazon seller that went to like 20 walmarts and filled his SUV up with those monopoly games. They were selling as fast as he could buy them.
The ones you get on ebay are typically fake. They will work for 90 days and then you’ll get a notice that you have an unauthorized version of windows. It will still work, but your background will stay black and you’ll get annoying popups all the time.
My ebay laptop has this issue. So annoying! Pretty sad you still have to pay for an OS for windows when Apple has been giving it away forever.
the 15x8x5 box is always minimum 3 lbs for shoes for me. Anything under 2 lbs either goes in a flat rate or a standard poly bag to save ounces. I put REALLY nice shoes or Heavy mens shoes are 4-6lbs in the 15x8x5 box.
Does the 15x8x5 shoe box qualify for the cubic rate?
I could save a TON shipping heavier shoes.If you had pending offers while on vacation with the longer handling time, bulk editing would have missed the change back. This may explain the discrepancy.
Rent-A-Swag.
Thanks!
It appears I already had it turned on.Nope. Prices are the same as always.
They are also losing alot of my business due to their parcel changes.I had a couple email conversations with amazing taste a few years back. Her schedule is grueling! Workday starts at 3am. I don’t know how they keep from burning out.
08/19/2019 at 1:36 pm in reply to: Scavenger Life Episode 424: 1 Year Later, Our New Rental is Done! #66573Do they take out fees as they go, or do you still get an invoice?
How do you pass on your fedex discount only? I’d really like to do this.
USPS really shot themselves in the foot with this parcel change – Fed Ex just became MUCH more competitive and I’ll be using them alot more now.
08/19/2019 at 8:31 am in reply to: Scavenger Life Episode 424: 1 Year Later, Our New Rental is Done! #66540Items in Store 1201
Items Sold 21
Total Sales $3,052.00
COGS $1,552.00
Total Profit $1,500.00
Average profit $71.43
Average sales price $145.33
New Listings 28Summer sales goal:
$625 over my weekly goal of $875. Currently trailing my cumulative summer goal by $800.60
This big week put me in the ballpark of meeting my goal.I sold a pinball machine this week for $2500, paid $1500. I would have liked to get a bit more for it, but the buyer is a very reputable dealer so I know it will be a smooth transaction. Their shipper will pick it up this week.
I noticed that ebay turned my clothing sales tap on this week. Hopefully that trend continues. I definitely need to get a BUNCH more clothing listed.
Nothing much to talk about scavenger wise. The yard sale season is pretty much over. This time of year the yard sales suck. That’s ok – it will be time to hunker down and attack my death mountain (it’s way past “pile” stage) this fall.
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