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A 401K Account With Very Little In It

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  1. Simm0nS777 Simm0nS777 is offline

    Kent, OH
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    Jul 9th, 2012 (7/9/2012 12:19am)

    Ok, so after college I got a job as sort of a stepping stone until I was able to get something a little more long term and a little more up my ally. In my last month of this job I was automatically enrolled into their 401K. It was such a short period of time that I only have $64.03 in the fidelity account. I know it's a really small amount, almost laughable, but what is my best option with this? Is it worth rolling over into my new 401K? Should I just invest is super aggressively and hope for a lucky score? Or should I just pull it all out and forget about it?

    Keep in mind I know pretty much absolutely nothing about investing in 401K's so this may be rather straight forward but I have no idea.
    Edited By: Simm0nS777 Jul 9th, 2012 at 12:21 AM
     
  2. Zeppelin Zeppelin is offline world traveler

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    Jul 9th, 2012 (7/9/2012 12:21am) in reply to Simm0nS777

    Looks like 3 months in Thailand
  3. Bonestein Bonestein is offline

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    Jul 9th, 2012 (7/9/2012 12:22am) in reply to Zeppelin

    1. Get money
    2. Fuck bitches
    3. ???
    4. Profit
  4. Simm0nS777 Simm0nS777 is offline

    Kent, OH
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    Jul 9th, 2012 (7/9/2012 12:23am) in reply to Bonestein

     
    Originally Posted by Bonestein View Post

    1. Get money
    2. Fuck bitches
    3. ???
    4. Profit

    Winner so far.
     
    Thread Starter
  5. LeftyMark LeftyMark is offline Pee Wee's Big Adventure

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    Jul 9th, 2012 (7/9/2012 12:25am) in reply to Simm0nS777

    Just put the whole thing in black.
  6. Simm0nS777 Simm0nS777 is offline

    Kent, OH
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    Jul 9th, 2012 (7/9/2012 12:26am) in reply to Bonestein

     
    Originally Posted by Bonestein View Post

    1. Get money
    2. Fuck bitches
    3. ???
    4. Profit

    Although, I am a bit worried at the quality of bitches I could fuck with this little amount of $$$.
     
    Thread Starter
  7. kellykip kellykip is offline The Chosen One

    New York City, NY
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    Jul 9th, 2012 (7/9/2012 12:27am) in reply to Simm0nS777

    You have half of what you need for a massage with mouth happy ending in Chinatown; I'd suggest seeing if you can get the 2nd part 1st.
  8. El Burro El Burro is offline

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    Jul 9th, 2012 (7/9/2012 12:27am) in reply to kellykip

    Get a picture of whoever handles these issues in your former employer's HR department and jack off to it.
  9. Simm0nS777 Simm0nS777 is offline

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    Jul 9th, 2012 (7/9/2012 12:29am) in reply to El Burro

     
    Originally Posted by kellykip View Post

    You have half of what you need for a massage with mouth happy ending in Chinatown; I'd suggest seeing if you can get the 2nd part 1st.

     
    Originally Posted by El Burro View Post

    Get a picture of whoever handles these issues in your former employer's HR department and jack off to it.

    Once again worried about quality of said bishes.
     
    Thread Starter
  10. Mr. Blonde Mr. Blonde is offline Supreme Moderator

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    Jul 9th, 2012 (7/9/2012 12:30am) in reply to Simm0nS777

    whats your vested interest? If its under 100% rolling it over may be your only option. Every plan is different
     
  11. Simm0nS777 Simm0nS777 is offline

    Kent, OH
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    Jul 9th, 2012 (7/9/2012 12:33am) in reply to Mr. Blonde

     
    Originally Posted by Mr. Blonde View Post

    whats your vested interest? If its under 100% rolling it over may be your only option. Every plan is different

    Not even sure what that means in 401K terms haha
     
    Thread Starter
  12. El Burro El Burro is offline

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    Jul 9th, 2012 (7/9/2012 12:36am) in reply to Simm0nS777

     
    Originally Posted by Simm0nS777 View Post

    Not even sure what that means in 401K terms haha


    Then buy a vest and jack off on it.
  13. clemsonrich clemsonrich is offline

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    Jul 9th, 2012 (7/9/2012 12:37am) in reply to El Burro

     
  14. Mr. Blonde Mr. Blonde is offline Supreme Moderator

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    Jul 9th, 2012 (7/9/2012 1:08am) in reply to Simm0nS777

     
    Originally Posted by Simm0nS777 View Post

    Not even sure what that means in 401K terms haha

    basically you have to work there so long in order to access your money. Typically its 20% per year, with 100% vested after 5 years. Basically, if you had $64 in there after a year you can access (or withdraw minus a penalty) about $12.80. Like I said every plan is different so I could be wrong on this...Im basing it off of the 2 companies I worked for in the past
     
  15. Bonestein Bonestein is offline

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    Jul 9th, 2012 (7/9/2012 1:15am) in reply to Simm0nS777

     
    Originally Posted by Simm0nS777 View Post

    Although, I am a bit worried at the quality of bitches I could fuck with this little amount of $$$.


    Spend it on roofies, roofie high quality bitches, enjoy.
  16. clemsonrich clemsonrich is offline

    Richmond, VA
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    Jul 9th, 2012 (7/9/2012 1:24am) in reply to Bonestein

    from what i've heard about compound interest, you should be a millionaire by 50.
     
  17. TrafficKing TrafficKing is offline

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    Jul 9th, 2012 (7/9/2012 1:44am) in reply to clemsonrich

    Just cash it out and throw it on a hand of blackjack or sumthin, its not enough to roll over unless u add some money to it and i would b careful doing that with this economy /
  18. shady_phenom shady_phenom is offline

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    Jul 9th, 2012 (7/9/2012 1:45am) in reply to Simm0nS777

     
    Originally Posted by Simm0nS777 View Post

    Ok, so after college I got a job as sort of a stepping stone until I was able to get something a little more long term and a little more up my ally. In my last month of this job I was automatically enrolled into their 401K. It was such a short period of time that I only have $64.03 in the fidelity account. I know it's a really small amount, almost laughable, but what is my best option with this? Is it worth rolling over into my new 401K? Should I just invest is super aggressively and hope for a lucky score? Or should I just pull it all out and forget about it?

    Keep in mind I know pretty much absolutely nothing about investing in 401K's so this may be rather straight forward but I have no idea.

    dude...congrats on proving what a college education gets you these days....

    first lemme go ahead and do this



    then lemme suggest you order some pizzas and beer and chill out on the couch for the night...that's probably your best bet with the $12-$64 you have in the 'K....

    gl in your future endeavors bro, methinks you'll need it with tough questions such as the one you have posed...and so no hard feelings, i respect the DMB avvy and your fancy badge....
  19. An Actuary An Actuary is offline

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    Jul 9th, 2012 (7/9/2012 3:21am) in reply to shady_phenom

    If you cash it out, you have to pay taxes on it plus a 10% penalty tax.. so it's going to be a grand total of $30 after all that.

    If leaving it there is an option, I would do so. Second best option is to roll it over to current employer. That may not be allowed, which would mean opening an IRA.. however... the annual fee would eat that up in no time.
  20. Luho Luho is offline

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    Jul 9th, 2012 (7/9/2012 4:00am) in reply to shady_phenom

     
    Originally Posted by shady_phenom View Post

    dude...congrats on proving what a college education gets you these days....

    first lemme go ahead and do this



    then lemme suggest you order some pizzas and beer and chill out on the couch for the night...that's probably your best bet with the $12-$64 you have in the 'K....

    gl in your future endeavors bro, methinks you'll need it with tough questions such as the one you have posed...and so no hard feelings, i respect the DMB avvy and your fancy badge....

    LOL @ thinking a college education automatically relates to a person knowing about 401Ks. Unless you're in a field related to investments or such, you most likely will not receive any education regarding 401Ks.

    I've had to self educate myself on all of my retirement options. I wasn't given one minute's worth of that type of education in pharm school.
     
  21. shady_phenom shady_phenom is offline

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    Jul 9th, 2012 (7/9/2012 4:17am) in reply to Luho

     
    Originally Posted by Luho View Post

    LOL @ thinking a college education automatically relates to a person knowing about 401Ks. Unless you're in a field related to investments or such, you most likely will not receive any education regarding 401Ks.

    I've had to self educate myself on all of my retirement options. I wasn't given one minute's worth of that type of education in pharm school.

    Of course I didn't, (the college education and understanding 401ks etc.) I figured my sarcasm would be evident enough. As for having to educate yourself on 401ks whilst being college educated I can even stretch far enough to give you that. Instead I was focusing more on the indeciveness over what to do with, at most, six fo bux in a 401k situation (with diploma in hand mind you)....c'mon man, really, strip it down and look at the question....that's all, I was just taking a drunken shot at someone having the synapse firing, gray matter sizzling idea to post a thread asking what to do with, at most, sixty-four U.S. doll hairs in a 401k....look at it that way and tell me you still want to argue....thas all bro, didn't mean to excite you...
    Edited By: shady_phenom Jul 9th, 2012 at 04:22 AM
  22. raisethis2 raisethis2 is offline

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    Jul 9th, 2012 (7/9/2012 4:24am) in reply to shady_phenom

    MrBlonde is probably right. Ask Fidelity.
  23. Luho Luho is offline

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    Jul 9th, 2012 (7/9/2012 4:25am) in reply to raisethis2

    Not excited anymore
     
  24. rebelfd rebelfd is offline

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    Jul 9th, 2012 (7/9/2012 4:28am) in reply to Luho

    Cash out, buy some scratch offs, profit?
  25. shady_phenom shady_phenom is offline

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    Jul 9th, 2012 (7/9/2012 4:29am) in reply to Luho

     
    Originally Posted by Luho View Post

    Not excited anymore

  26. Realbigfish4 Realbigfish4 is offline

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    Jul 9th, 2012 (7/9/2012 4:32am) in reply to shady_phenom

    I keep thinking the OP is Sweetness thanks to the damn S...777. Then I realize its not and get upset I opened this fucking thread again.
  27. SlapNPickle SlapNPickle is offline

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    Jul 9th, 2012 (7/9/2012 4:42am) in reply to Realbigfish4

    Everything that I do they try to copy copy paste.
    Edited By: SlapNPickle Jul 9th, 2012 at 04:43 AM
    Reason: wrong Simmons?
  28. norcaljeff norcaljeff is offline 2010 OT Thread Kill Leader

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    Jul 9th, 2012 (7/9/2012 7:58am) in reply to Simm0nS777

    It's at $64 now? What did it start at? And how long has it been?
    Edited By: norcaljeff Jul 9th, 2012 at 07:58 AM
  29. time4badbeat time4badbeat is offline

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    Jul 9th, 2012 (7/9/2012 1:11pm) in reply to norcaljeff

    Same thing happened to me except I had $11. They didn't even give me a choice, just shipped me a check
     
  30. Geoff Moore Geoff Moore is offline

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    Jul 9th, 2012 (7/9/2012 5:44pm) in reply to time4badbeat

    eat the penalty and cash it out
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