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April 12, 2005 / TildeWill

NAS Day 2: Production

Despite it being day two of our week-long orientation I managed to get
a metric shit ton done today. For starters they had us doing a
scavenger hunt to collect business cards of people like the HR
director, payroll people, and our supervisors and managers. So while I
was up in the admin building I got myself signed up for direct deposit,
and started the ball rolling for where I needed to go to get NAS to pay
for United Van Lines to move my stuff.

We sat through some power point presentations and I got to spend a
little time with Adam and Oscar in the rack room while they fixed
problems and installed software on the company servers. We got done
early with orientation for the day so I went and got the accounting
department to call United and follow up with some email. I then talked
to my manager to see what all he had slated for future projects, then
headed home since it was 5. On the drive back I got my old cell phone
number disconnected and my new one programed in. I also got a hold of
United myself who at this point had enough to move forward on and
scheduled my move out for Monday morning and move in for Tuesday
morning of next week.

Then I got in my apartment where I plopped down in front of my PC and
set up a friendly meeting with Brittany on Thursday afternoon after
work. I can’t wait to see her and talk her ear off and have her talk
off mine. She’s the best Will Read mentor that’s close by and I’ve got
a few things I hope to bounce off her and get her reactions to.

Then I went to Kinko’s and got my Florence (Y’all!) map laminated. I
also saw a super hot woman there and I chit chatted with her. I had no
good reason to talk to her, but I did anyway. I guess that’s the first
time I’ve done that outside of a bar atmosphere. It was fun. I then
proceeded to get lost in Florence as I planned and I found a Domino’s
but they don’t deliver to my apartment so I need to find the other one
someday.

I headed home, ate some soup, and watched some anime. Now I’m putting
off reading about my benefits and how I should put fat cash into my
401(k) plan so I can live off the fat-o-the-land when I’m old and
crotchety. I know it is the right thing to do, and I have plenty of
income to do it, but I really dislike putting my money in places I
can’t get to right away.

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4 Comments

Leave a Comment
  1. Clint / Apr 12 2005 9:18 pm

    An alternative is a Roth IRA which is taxed going in, has a lower limit, but you don’t incur a penalty when you remove money early (I don’t think).

    Jacqui knows a bit more about this than me.

    We also have a mutual fund with our bank (Bank One). We put money into our savings on a regular basis and BO will deduct $100 a month and just insert it into the concoction of a Mutal Fund we setup a long time ago. Its pretty nice 🙂

    I also put money into 401k too, just to have money in a bunch of different places 🙂

  2. Jacqui / Apr 13 2005 8:58 am

    Nono, you incur a penalty for withdrawing early for both an IRA and 401k, but you can usually borrow against that amount no matter what (so if you DID suddenly need $10k and you have $10k in an IRA, you can easily get a loan for $10k against your IRA).

    The difference between a 401k is that it’s pre-tax and taxed when you withdraw, and a Roth IRA is post-tax and you never pay tax on it ever again, forever. 401k is known as “better” because of employer matching – you automatically get a 50% return on investment on the first 5% you put in (or whatever your company’s matching percentages are) in addition to the regular growth it will show from the investments. If there’s no matching though, then a RothIRA is better simply because it’s independently controlled (you don’t have to worry about being vested and whatnot at your company to take the 401k with you) and will never be taxed again.

  3. Dickersonian / Apr 13 2005 1:23 pm

    another thing to consider is that while you should absolutely make sure that you take full advantage of whatever your employer matches on the 401k, you might not want to exceed that amount right now. The advantage to a 401k is that it is pre-tax money, but you get taxed when you take the money out. The assumption is that you will be in a lower tax bracket when you retire than you are in now. This, however, might not be true for the following reasons:

    1 – people tend to maintain a standard of living once retired that matches their employed standard of living (read same tax bracket)

    2 – with ‘our friend’ George W in the white house and his republican congress, taxes are at a historic all time low right now. Odds are taxes will be HIGHER when you pull the money out of the 401k, not lower.

    Therefore, if you have other uses for the money, you should consider using it to pay down debt. If you don’t have any significant debt, the Roth IRA makes since because it is post tax money. This would still save for retirement.

    Just make sure to take advantage of any employer match, because this is like an imediate, gaurenteed, 50% return.

  4. Mario / Apr 13 2005 4:32 pm

    Just put your money into an account on the Cayman Islands

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