It was this past spring bro
I can't withdraw MY OWN MONEY?!
- Thread starter The Dude
- Start date
It was this past spring bro
The Dude
MuscleChemistry Registered Member
Yeah, I'm going to get pretty nasty on Monday. This is total bullshit. How can anyone tell me that they won't give me my money back. That's statutory theft...
yeah I dont get it brutha, its your dough! and like gerry said as long as u pay it back ur fine!
big in vegas
MuscleChemistry Registered Member
I've borrowed against mine many times and have never had one single problem. I have mine online so I don't even have to talk to anyone, I just go on there and decide how much I want and elect to have 10% deducted for taxes and I'm good to go. So if I decide to take $1000, I really only get $900 because I always take the 10% out otherwise taxes will ass rape me in April
lmao
The Survivor
Active member
Ya know Dude I thought same....you really have to study your shit on gems, then hope you got lead in the right direction by the right people. But didnt I hear right that gold and silver have stagnated?
here try this go in with a double barrel 12 gauge and say, "give me my fucking money you thieving bastards"
Gold and Silver are like any other commodity , subjected to huge swings. Long term there is no better investment. Thing is where you gonna put 1000 silver coins. Thats why Gold is better less of it to hide, I do like silver though too.
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Gold and Silver are like any other commodity , subjected to huge swings. Long term there is no better investment. Thing is where you gonna put 1000 silver coins. Thats why Gold is better less of it to hide, I do like silver though too.
- - - Updated - - -
Gold and Silver are like any other commodity , subjected to huge swings. Long term there is no better investment. Thing is where you gonna put 1000 silver coins. Thats why Gold is better less of it to hide, I do like silver though too.
The Dude
MuscleChemistry Registered Member
I checked. What happened was that I was in a different plan with a different company. My employer decided to go with just one option and switched my money to these guys. I didn't sign shit or agree to anything. My panties are really in a bunch
The Dude
MuscleChemistry Registered Member
I'm more of an AR guy personally Lol!
The Dude
MuscleChemistry Registered Member
I've just learned to love investments that I can put my hands on.. What good is the money in this 403b doing? I can't touch it until I'm 60! It was taken out of my paycheck and is nothing but my own money, but some ass clown can tell me I can't have it for 30 years?! It's likely I won't even remember I have it in 30 years. It just doesn't make sense. At 52 I can retire with an 80% pension...
Buffalo
MuscleChemistry Member
Yeah plan administrators pretty have all authority for the pension funds or any fund and is an agreement made. if it is union, the union makes those arrangements. That's good and bad; good when they make you money, bad when they don't lol.
The Dude
MuscleChemistry Registered Member
I feel like I'm in a race to quit my current job. I've weighed all the options and I just can't do it right now so I just pray there are a few more years before the market really crashes or Obama takes it.
I now put the contributions into a second account AND I alot a certain amount of money each check to silver and gold bullion. I don't think anything created by our Govt will end well as history has shown us
lol OR maybe the government demands that you turn in your gold lol it was done before wasn't it lol
The Dude
MuscleChemistry Registered Member
What's crazy is I was on a boat with my friends this weekend having a few drinks and damn it wouldn't you know it, I knocked it all overboard as I was doing my Flava Flave impressions Lol!!
DUDE. I did a little research on this. See below.
CAN I TAKE A LOAN FROM MY 403b PLAN
Yes, but not all providers permit loans from 403(b) accounts. Contact your provider for availability. Plan loans are convenient, but they are not always the right solution. Consider both the positive and negative repercussions to determine if a plan loan is right for you. And, always compare the overall cost of a plan loan with other sources of funds. The true cost of the loan is more then just interest paid; it also includes the lost interest earned and/or growth from market returns.
If you do choose to take out a loan, here is what you need to know. In order to allow temporary access to your 403(b) account, the Internal Revenue Service (IRS) permits loans. There are, however, some limits on the amount. Generally, the loan cannot exceed the smaller of: $50,000, or one-half of your account balance (though if your account balance is less than $20,000 you may borrow up to $10,000 if you have that much in your account).
In applying these limits, all of your 403(b) accounts must be combined and aggregrated with any loans from other retirement plans you might have, such as a 401(k).
Loans must be repaid by making repayments of principal and interest at least quarterly. Unless the loan is made to acquire your principal residence, it must be repaid within five years.
Failure to make scheduled loan repayments will cause the outstanding loan balance to be included in your gross income and subject to the federal 10% early distribution penalty. Additionally, such a loan default may impair your ability to make loans against your 403(b) account in the future.
Loans will also affect the amount you ultimately accumulate for retirement. Loans are required to charge interest. The lender keeps those amounts that you pay in interest, so interest payments will not be a part of your retirement savings. Therefore, loans should be used only when absolutely necessary.
[h=2]May hardship withdrawals be made from a 403(b)?[/h] Hardship withdrawals are permitted from a 403(b) account if the employee is under severe financial distress. The employee must have no other resources available to alleviate the stress, such as selling assets or obtaining a loan from a financial institution. Hardship withdrawals may be made for:
- Un-reimbursed medical expenses of the employee or his/her spouse and dependents
- Down payment on primary residence
- Tuition and fees for higher education needs, only for the next 12 months
- Eviction or foreclosure on your primary residence
- You may only withdraw the amount that you need to meet your hardship, plus an amount to cover any taxes that apply. Hardship withdrawals can only be taken from salary reduction contributions, not earnings. Your employer will require proof of hardship prior to approving the withdrawal, and will automatically suspend contributions, per IRS guidelines, to your 403(b) and, if applicable, your 457(b) account for six months.
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DUDE. I did a little research on this. See below.
CAN I TAKE A LOAN FROM MY 403b PLAN
Yes, but not all providers permit loans from 403(b) accounts. Contact your provider for availability. Plan loans are convenient, but they are not always the right solution. Consider both the positive and negative repercussions to determine if a plan loan is right for you. And, always compare the overall cost of a plan loan with other sources of funds. The true cost of the loan is more then just interest paid; it also includes the lost interest earned and/or growth from market returns.
If you do choose to take out a loan, here is what you need to know. In order to allow temporary access to your 403(b) account, the Internal Revenue Service (IRS) permits loans. There are, however, some limits on the amount. Generally, the loan cannot exceed the smaller of: $50,000, or one-half of your account balance (though if your account balance is less than $20,000 you may borrow up to $10,000 if you have that much in your account).
In applying these limits, all of your 403(b) accounts must be combined and aggregrated with any loans from other retirement plans you might have, such as a 401(k).
Loans must be repaid by making repayments of principal and interest at least quarterly. Unless the loan is made to acquire your principal residence, it must be repaid within five years.
Failure to make scheduled loan repayments will cause the outstanding loan balance to be included in your gross income and subject to the federal 10% early distribution penalty. Additionally, such a loan default may impair your ability to make loans against your 403(b) account in the future.
Loans will also affect the amount you ultimately accumulate for retirement. Loans are required to charge interest. The lender keeps those amounts that you pay in interest, so interest payments will not be a part of your retirement savings. Therefore, loans should be used only when absolutely necessary.
[h=2]May hardship withdrawals be made from a 403(b)?[/h] Hardship withdrawals are permitted from a 403(b) account if the employee is under severe financial distress. The employee must have no other resources available to alleviate the stress, such as selling assets or obtaining a loan from a financial institution. Hardship withdrawals may be made for:
- Un-reimbursed medical expenses of the employee or his/her spouse and dependents
- Down payment on primary residence
- Tuition and fees for higher education needs, only for the next 12 months
- Eviction or foreclosure on your primary residence
- You may only withdraw the amount that you need to meet your hardship, plus an amount to cover any taxes that apply. Hardship withdrawals can only be taken from salary reduction contributions, not earnings. Your employer will require proof of hardship prior to approving the withdrawal, and will automatically suspend contributions, per IRS guidelines, to your 403(b) and, if applicable, your 457(b) account for six months.
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