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Talking stocks, trading, and investing in general

Discussion in 'Business, Careers & Education' started by mikeman, Feb 2, 2011.

  1. Texasmade

    Texasmade Distinguished Member

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    When I was working for KPMG, I was forced to pull money out of my previous employer's 401k and had the option to either roll it into an IRA or their 401k once I was promoted to a manager. That was for independence reasons since any funds investment funds in the KPMG 401k plan weren't being audited by KPMG. When I moved from KPMG to PwC I was forced to do the same thing for the same reason. When I left PwC, they forced me to either cash out of their 401k or roll over. You had to make an election by the last business day of the subsequent month your employment ended at PwC. Since I was unemployed at the time (I quit January and didn't start the next job until March) I didn't have the option to roll over to my current employer 401k.
     

  2. jbarwick

    jbarwick Distinguished Member

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    My previous employer gave me 30 days to move the money out of their 401k plan when I left. It was a hospital operator so not like TM above. I honestly do not know what they would have done if I left it in their 401k plan...charge me a ton to keep it there?
     

  3. Texasmade

    Texasmade Distinguished Member

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    Might be similar to when I was at PwC where if you didn't make an election, they cash you out. In that case I would've been penalized and taxed. Rollover allows me to avoid both.
     

  4. venividivicibj

    venividivicibj Stylish Dinosaur

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    Some jobs start charging you ‘service fees’ if you are still using the plan while no longer employed there.
     

  5. gettoasty

    gettoasty Stylish Dinosaur

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    I don't know about the plan sponsor charging you fees directly, fees should certainly not increase to keep money custody at the same firm but likely stay the same. On the contrary, from the plan sponsor POV it may be more cost effective for them to move out assets of former employees/inactive participants for purposes like annual reporting done by the TPA, which some TPA charge a fee per participant on top of their base cost.
     

  6. stimulacra

    stimulacra Senior Member

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    Hmm… I think it would be more meaningful if they included either all retirement accounts, or tax-advantaged accounts. I've only been with my current employer for a couple of years so my 401k balance is a small percentage of my tax-deferred nest egg although it's growing at the fastest rate.

    Intuit has a similar study but basing it off of total net worth versus 401k balance.
    https://intuit.me/2Sh3Usq

    At the least it offers another facet. Would be curious to see more recent findings for IRA and Roth IRA.
     

  7. Omega Male

    Omega Male Senior Member

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  8. stimulacra

    stimulacra Senior Member

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    Chipotle (CMG) hit $600 today.
     

  9. jbarwick

    jbarwick Distinguished Member

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    And to think people laughed when they hired the Taco Bell guy. Wonder if Ackman still owns some CMG?
     

  10. lawyerdad

    lawyerdad Stylish Dinosaur

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    Speaking as someone who has managed a couple of professional departments and done a lot of hiring: always hire the Taco Bell guy.
     

  11. stimulacra

    stimulacra Senior Member

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    Can't argue against Yum Brands track record. I've been meaning to buy some shares of YUM at some point but feel like that window has come and gone.
     

  12. jcman311

    jcman311 Distinguished Member

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    What are you talking about. Look at the innovation! Nacho Fries!!??!!

    Of course I'm kidding but I'm seeing some restaurant designs that are eye opening. Fancy Taco Bells that are looking more like Chipotle.
     

  13. brokencycle

    brokencycle Stylish Dinosaur Moderator

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    Forget CMG... SNAP is where it is at.
     

  14. stimulacra

    stimulacra Senior Member

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    I've probably only checked my Snapchat account 8-9 times in all of 2018. My daughter uses it now when she's bored while we're out running errands, from what I can tell, she only uses the filters and engages in those Snap quizzes now. I can only imagine what purpose the quiz data harvesting is serving.

    Not really seeing a concrete business model any longer. Instagram (and FB) took their lunch.
     

  15. brokencycle

    brokencycle Stylish Dinosaur Moderator

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    It was a poor attempt at an inside joke.
     

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