I don't understand?

[Sportin' Wood]

Why People can be so stupid.
A Rant:
Last week I recieved notice that Our Company is way top heavy with its 401 K program. We put a 401 K in place for our employee's and match them 50%. We retroactivated eligibilty so more people could take advantage.
I will now have to take money out of my personal account(401K) because we have so little participation and pay a hefty fine.
We are ok with paying the fine but if only management is going to participate there are better ways for us to do that then a 401K. That being said we sent our middle management out to ask if any of the 30% of eligible employee's and those that will be eligible would like to participate, or if we should discountinue the company match 401K all together.
3 Employee's wanted to keep it. The rest said they have no disire to use a 401K program, and don't care. All 3 are in management.
WTF is wrong with people? It free money?
Its Pretax, and it changes their check like $12.00?
The more I work at being in business the more I see that there are really two kinds of people in the world...Winners and losers!
So bye bye 401K I just got a raise! Dumbasses!
Next stupid people question....
How is it that stealing the equity out of your home , buying another home in a different state and walking away from your Ca. home leaving the mortgage in default is some how a good idea? or for that matter renting in another state?
I'm starting to hear people talk about this and know at least one who allready bought a house in Co. and is packing as we speak. Good thing the loan biz is tightening up because there are a lot of dumbies talking about this and " The better life style" it will offer them. How is fawling up your credit and moving out of state with no job a better life style?
Man people are acting the fool right now!

[HocusPocus]

i don't know what to tell you, it amazes me daily the things most people do or don't do.
i couldn't imagine not taking advantage of a 401k program but the hardware stores we have employee a little over 100 people out of those only 4 use the program in place. figure no one cares about their future.
How is it that stealing the equity out of your home , buying another home in a different state and walking away from your Ca. home leaving the mortgage in default is some how a good idea? or for that matter renting in another state?
I'm starting to hear people talk about this and know at least one who allready bought a house in Co. and is packing as we speak. Good thing the loan biz is tightening up because there are a lot of dumbies talking about this and " The better life style" it will offer them. How is fawling up your credit and moving out of state with no job a better life style?
for the second question it pissed me off also and i know 2 that are doing just that. they seem to think its funny and im sure the idea will be spreading.
Man people are acting the fool right now!
panic????? desperation?? clueless??

[superdave013]

I think allot of those people don't understand the plans and or don't trust the man. At least that's the way it was at the last shop I worked at.
They switched plans and some guy came out and explained to our shop workers. Most of those guys didn't speak very good English and every one of them had the deer in the headlight look. These were guys who cash their checks because they don't trust the man or his banks. They damn sure didn't understand nor trust this clown in a suite. lol
So I called my dad who has been a broker longer then I've lived. Ended up putting him on speaker with all the shop guys (99% straight from Mexico) around. He explained it on a level they could understand. And explained how compounding interest works. And he worked for a different firm so it's not like he had anything to gain. All but 2 signed up.
Every year I'd get our choices and fax them off to my dad. He'd fax it back with where he would put his money. I'd pin it up by the time clock and call it "Dick's picks". In the 16 years I worked there he sure helped allot of people save some money.

[Stingray69]

Guys I worked with always packed the 401K, then took out loans to race .... and shit.

[brianthomas]

Why People can be so stupid.
A Rant:
Last week I recieved notice that Our Company is way top heavy with its 401 K program. We put a 401 K in place for our employee's and match them 50%. We retroactivated eligibilty so more people could take advantage.
I will now have to take money out of my personal account(401K) because we have so little participation and pay a hefty fine.
We are ok with paying the fine but if only management is going to participate there are better ways for us to do that then a 401K. That being said we sent our middle management out to ask if any of the 30% of eligible employee's and those that will be eligible would like to participate, or if we should discountinue the company match 401K all together.
3 Employee's wanted to keep it. The rest said they have no disire to use a 401K program, and don't care. All 3 are in management.
WTF is wrong with people? It free money?
Its Pretax, and it changes their check like $12.00?
The more I work at being in business the more I see that there are really two kinds of people in the world...Winners and losers!
So bye bye 401K I just got a raise! Dumbasses!
Next stupid people question....
How is it that stealing the equity out of your home , buying another home in a different state and walking away from your Ca. home leaving the mortgage in default is some how a good idea? or for that matter renting in another state?
I'm starting to hear people talk about this and know at least one who allready bought a house in Co. and is packing as we speak. Good thing the loan biz is tightening up because there are a lot of dumbies talking about this and " The better life style" it will offer them. How is fawling up your credit and moving out of state with no job a better life style?
Man people are acting the fool right now!
Can't you roll your 401K balance into an IRA or Roth IRA and avoid the penalties?

[duner21]

I am having the same problem here at my work. There are 20 of us who are getting money back because we maxed out our 401k. They cannot get enough of the people to sign up. My taxes were almost done and now i have to wait because it is becoming taxable income for 2006.

[MikeF]

Every year I'd get our choices and fax them off to my dad. He'd fax it back with where he would put his money. I'd pin it up by the time clock and call it "Dick's picks". In the 16 years I worked there he sure helped allot of people save some money.
How can I get one of those lists?! What would it cost?

[blown65]

Its funny, here if you put in 3% it matches 3%. Put 5% it matches 4%. Ironically, quite a few put 3% in.
I just wish they would raise the cap on what you put in a yr.

[superdave013]

How can I get one of those lists?! What would it cost?
the list of options would come from your 401K plan.

[superdave013]

Can't you roll your 401K balance into an IRA or Roth IRA and avoid the penalties?
I htink he is talking about his company paying the penalties. Something to the effect that they have to many chiefs and not enough injuns in the plan.