this post was submitted on 22 Jan 2024
1368 points (97.8% liked)
Microblog Memes
5467 readers
5 users here now
A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.
Created as an evolution of White People Twitter and other tweet-capture subreddits.
Rules:
- Please put at least one word relevant to the post in the post title.
- Be nice.
- No advertising, brand promotion or guerilla marketing.
- Posters are encouraged to link to the toot or tweet etc in the description of posts.
Related communities:
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
He's talking specifically about company matching of their stock purchase, no?
Employee stock purchase plans usually don't match, they just offer a 10-15% discount. I honestly have no idea what they're talking about. 401k isn't held by your employer, and ESPP doesn't match.
My ESPP would match up to ten shares, which is why I thought they meant ESPP. But yeah, I'm confused as well
Ten shares per paycheck? Wow, that's an amazing benefit, assuming you can sell. That is basically doubling your money. The best one I've ever had was a 15% discount off the lower price between the start of the quarter and the end of the quarter. If the stock was moving upwards I'd hold it, and if it was moving downwards I'd just sell it immediately for the free 15%.
Annually, unfortunately. Still, it was free money so I took it. Then it tanked :-(
Oh, you're OP! Yeah, I guess that didn't work out in the end. It ended up being fortunate that it was 10 per year!
I'm not saying it doesn't happen, but I've never heard of an employer that requires their 401k match to be invested in the company. Everywhere I or my wife has worked you could put it in any fund available with that 401k plan.
Oh, 401k. I was thinking they meant ESPP.
Even so, every company I've worked for allows withdrawals at various times for parts of the fund. I need to keep a certain % of mine in company stocks, I move the overflow asap into a different fund to protect myself.
If your retirement plan absolutely has to be locked into your employer, you have a rather large risk to yourself there and I'd potentially consider finding a new employer if I ended up there. Too many companies disappear to be comfortable with that.