Snackbar is chillin'....at Shaffer

I might get 1-2 live a week,but it’s mostly D/H.
But sometimes D/H turn into not ready and wait.

 

Probably 70%, not sure. Sometimes it's several loads in a row drop/hook then I get a few drop/ hook on one end or the other. Rarely have the same trailer for more than a couple loads. That sometimes gets you a mess someone else dropped too, though.

 

Well, made TOTAL $101,456 from Aug1 2021 to Jul31 2022. Color me impressed!

Edit: on the Shaffer division

 

Does that program subtract IFTA taxes so you get the true price of fuel?

 

Go on vacation with 401k money? And no, that’s not Monopoly money.

 

That’s why it’s better to have more than one
avenue for retirement. I just transferred $75K for the second time this year from my 401K to our IRA’s. I have this thing inside me that I don’t trust any trucking company with my money, even if it is one of the biggest OTR company’s with the top rated 401K company in the country. At my age, and the value of all my investments, my 5.5% growth over the last 5 years is just fine. This downturn, really hasn’t affected my net that much because of the type of investments it’s set up in. But I’ll be ###### that my funds will be tied up in just one account.

 

I like your threads Snackbar, but your views on saving for retirement are wrong. It's not monopoly money. Not even close.

That is real money in there. You can withdrawal that 401k money anytime you want, although you will be taxed on it as if it were income, on top of you having to pay an extra penalty fee for early withdrawal (10%). But that 401k money is 100% accessible, should you want it at any point, though that's certainly not advisable to do early withdrawals. You can also do a 401k loan that I believe is interest free, although I wouldn't personally mess around with that either.

Then there's IRA's, which you have to set up yourself. It's a retirement account just like a 401k is, but 401k's can only be setup by an employer while an IRA is normally setup by an individual (though companies can set up an IRA as well, though it's not common).

It should be noted that you can withdrawal your Roth IRA contributions that you made at ANY time you want before 59.5 years old tax and penalty free, because you already paid taxes on that money before you deposited it into your Roth IRA. Your Roth IRA earnings (if you do an early withdrawal before 59.5 years old) are subject to tax and a 10% penalty.

But even if you want to withdrawal from your Roth IRA earnings before 59.5 years old, you can withdrawal that money (earnings) penalty and tax free for certain reasons. One is if you are a first time homebuyer, you can take 10k of you're IRA earnings tax and penalty free if you're using that money for a home. You can also do early withdrawal's on earnings penalty and tax free for several other big life events as well, including birth of a child, medical expenses, qualified education expenses, and a few other reasons.

Don't take my word for it though, here it is:

Roth IRA Withdrawal Rules

Now, an important thing to note based on the paystub that was posted above, is what your company's policy is towards being "fully vested" in your company's 401k match.

I'm with Magnum right now and while I love this company, their 401k policy is not good in the fact that you only get 20% vested in your company's 401k match per year. So it takes you 5 full years of working there before every single dollar that Magnum matches in your 401k becomes yours.

So what @TruckerLlew posted in his paystub where it showed he had $5405 in the 401k match and profit sharing, if he's not fully vested into the retirement plan than all of that money is not his yet. If he is fully vested into the retirement plan, than that whole $5405 is 100% his money.

@supersnackbar if you want flexibility with your retirement savings, then the smart thing to do would be to invest enough in your company's 401k to get the company match and then invest the rest in your IRA (current yearly contribution limits are 6k per year 49 years and younger and 7k per yer 50 years and older).

Anyways long story short, for anybody reading this thread, especially for those of us on the younger side, save money in your 401k and IRA retirement accounts. Do not neglect it. The power of compound interest is real. Your retirement money is not "monopoly money", it is real and you will need it when you get older. And as mentioned in this post, Roth IRA's do indeed have an incredible amount of flexibility in them.