TMC employee owned company?

Look for companies where your fully vested in 401K in 1-4 years. Do you really want to put your financial security in the hands of coworkes?

 

I think of it as a savings account. That could possibly be lost. But if you catch the signs. Pull it out to something else and find another job.

 

Employee owned company simply means the shareholders are not just anyone but have to be in the EO "program" that their BANK set up. The bank issues a big loan, and the company is basically indentured to that bank, to repay that big loan over a long period of time. Whoever is the wealthiest among the long term employees or owners buys up the shares first, and the EO program is meaningless to you as a new employee, since you won't be eligible to buy any shares until you have a year of tenure.

 

401-K's are a scam. Invest your cash in things that hold and grow in value such as gold, bitcoin, monero, or tax lien certificates on real estate at your local county courthouse. The dollar crash is coming and it will catch all of north America scared ***less, and those of us who have cash in the bank or a 401-K will have to kiss it goodbye because by the time the bank folds, the little people are the last to know and do not get their deposits out in time. Good book = The Creature From Jekyll Island by G. Edward Griffin. It sure opened my eyes.

 

Diversity, 401’s aren’t scams, even if market crashes money will come back, just like in 08 range. I said 1-4 years for that exact reason, if an opportunity arrives, cash out 401 & buy real estate or other investment, also, if company doesn’t fully vest in that range, there’s most likely a financial issue or uncertainty with said company. By the way, I believe the gold rush is over, that ships sailed. Real estate is king, always will be

 

How about taking the free money (ESOP) and also do a 401(k)? TMC has both.

 

The company works on a ESOP which stands for Employee Stock ownership program. The program gives you 11% of you yearly gross income info the stock's. However there is a maturity date to being able to cash out your stocks. You must be with the company for 8 years to obtain 100%of your stocks and under 2 years you get nothing after the 2 years you get 20%vested into your stocks every year up to 8 years. When I left the company I was with them for 1.5 years so I got nothing but my trainer cashed out his stocks for $75,000 after being there for 12 years.

 

I don’t believe this to be true. Employee owned companies are based on seniority not rank within the company.

 

Two men cuddlin (TMC)