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May be leaving the bullseye soon...

Joined
Nov 26, 2011
Messages
6
I will be leaving Target soon. I've been with them 3 years. How long does it take to cash out 401k/pension??
 

buliSBI

Former Team Member
Joined
Jun 17, 2011
Messages
3,407
Roll it over into another qualified account...DONT ASK THEM TO SEND YOU A CHECK.

Setup a IRA (ROTH preferably) at a credit union or bank. Or new employers 401k.
 

commiecorvus

Former Signing Ninja
Staff member
Moderator
Joined
Jun 10, 2011
Messages
17,712
Like they said ...
Roll it over into another IRA.
It's really the best thing to do, for tax reasons, your retirement, etc.
 

nib

Joined
Jan 31, 2012
Messages
461
Clearly most of the people in here aren't minimum wage earning, entry level employees struggling to get by. If you need to cash it out to survive, then do it. If we maintain any reasonable level of Democrats in public office, there will still be a safety net for you when you retire. If the Repubs win, none of us will have anything.
I will be leaving Target soon. I've been with them 3 years. How long does it take to cash out 401k/pension??
 
Joined
Jan 1, 2012
Messages
247
Can I cash out my After-Tax 401k and still continue working for Target? Is there a certain time period I have to wait before I cash out? Since it's After-Tax, I'm paying 10% on Gains, and 20% for Target's match.. The rest should be mine (since I already paid taxes on my contribution)
 
Joined
Jan 1, 2012
Messages
247
LOL!! Retire?? I'm 22 years old... We're not making it to retirement haha not a chance
(And if for some strange reason the world didn't end by the time i'm 67, and we haven't run out of resources, and there wasn't overpopulation-- then I'd simply move out the country and 'retire' overseas.) With inflation through the roof, retiring in the US is pointless lol
 
Joined
Jan 1, 2012
Messages
247
Why struggle to live in the US with a couple hundred thou when you can go overseas and live like royalty lol
 
Joined
Nov 26, 2011
Messages
6
  • Thread Starter Thread Starter
  • #16
I'm going to just run with it, LOL! I know I'll take a hit but I went from working at least 32 hours at my other store to working only 15 at the new store I transferred to. I am now behind on all my bills, I need the extra cash to catch up! Hours are the reason I am leaving, put in my notice yesterday. Got a new job that pays $3 more plus on average, $50-70 in tips per shift (that's about what I make in a day at target LOL). And they have guaranteed me hours!
 
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