Do you consider 100k life-changing money?

Do you consider 100k life-changing money?

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Hell yea. That’s the down payment on the house I want, wedding, and maybe a new car lease.
 
I thought of this thread today. At my last job, part of my retirement was a stock ownership plan. You got shares of stock in the company, and whenever you retired, you will get all your shares, which you can cash out, at whatever the stock is worth. Employee Stock Ownership Plan. After I left there, I would still own the shares and those shares would continue to gain or lose value, but I couldn’t own new shares and I couldn’t withdraw the money until retirement age.

Wellllllll I just found out today that the plan has moved to a different structure, and I can cash out anytime I want, I just have to pay the taxes on the money. A guy I work with literally got a 30k payment direct deposited to his bank account, 4 weeks after to requested it. I have almost 200k in stock. Basically that’s gonna be in my account in 4-5 weeks and I’m stunned because I wasn’t anticipating it this early :lol:

Not extremely life changing but I’ve already made some plans that I otherwise would have needed to save up a bit more for :lol:
 
calibeebee said:
I thought of this thread today. At my last job, part of my retirement was a stock ownership plan. You got shares of stock in the company, and whenever you retired, you will get all your shares, which you can cash out, at whatever the stock is worth. Employee Stock Ownership Plan. After I left there, I would still own the shares and those shares would continue to gain or lose value, but I couldn’t own new shares and I couldn’t withdraw the money until retirement age.

Wellllllll I just found out today that the plan has moved to a different structure, and I can cash out anytime I want, I just have to pay the taxes on the money. A guy I work with literally got a 30k payment direct deposited to his bank account, 4 weeks after to requested it. I have almost 200k in stock. Basically that’s gonna be in my account in 4-5 weeks and I’m stunned because I wasn’t anticipating it this early :lol:

Not extremely life changing but I’ve already made some plans that I otherwise would have needed to save up a bit more for :lol:
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But potentially that could be worth more if you hold onto it over time. You also risk a buyout or company going under. But you have a lot to think about. Cashing out isn’t so black and white.
 
calibeebee said:
I thought of this thread today. At my last job, part of my retirement was a stock ownership plan. You got shares of stock in the company, and whenever you retired, you will get all your shares, which you can cash out, at whatever the stock is worth. Employee Stock Ownership Plan. After I left there, I would still own the shares and those shares would continue to gain or lose value, but I couldn’t own new shares and I couldn’t withdraw the money until retirement age.

Wellllllll I just found out today that the plan has moved to a different structure, and I can cash out anytime I want, I just have to pay the taxes on the money. A guy I work with literally got a 30k payment direct deposited to his bank account, 4 weeks after to requested it. I have almost 200k in stock. Basically that’s gonna be in my account in 4-5 weeks and I’m stunned because I wasn’t anticipating it this early :lol:

Not extremely life changing but I’ve already made some plans that I otherwise would have needed to save up a bit more for :lol:
Click to expand...

Damn I would hold on to that especially I was expected on contonuing working there. Nice come up though. Company offered me a 401k plan after working there for 2 years. I don't make much to see serious dollars but I been saving. When Im done with the job I'm just gonna roll it over to an ira
 
moderndarwin said:
Not true. You cash out. There’s nothing to think about lol.
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There is a little to think about. This similar situation happened with this exact company in 1994 I believe. The stock split and the company offered every employee with stock the option to cash out, or leave it in. Most of those who cashed out got between 20 and 30k. In 1994 was a pretty big deal. A few held on and and I personally have seen their stock statements in the 4 million dollar range. I don’t think I have the courage to wait it out, but it is def something I should at least consider, briefly
 
calibeebee calibeebee what company? If you think the company has potential to grow, just excercise a portion if your options. Is there some policy that says you have to take all of it?
 
ASE said:
calibeebee calibeebee what company? If you think the company has potential to grow, just excercise a portion if your options. Is there some policy that says you have to take all of it?
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Winco foods. I’m pretty sure there are options to only take portions, with penalties. There are options to use it towards a house, school loan, or auto loan without penalties also I’m pretty sure
 
Hmm i see. Theyre also not publicly traded, so you cant even just reinvest on your own. You got s bit to think about. Good luck!
 
stopcappin said:
How much is a house , that requires a 100K down payment? We don’t have property that high in cleveland lol
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A SFH in NoVA near the beltway will run you well over 500k. And that’s for something built in the 60s/70s.

I’m looking at new builds in Denver that cost about the same.

And that 100k is if you want to put 20% down to avoid PMI payments.
 
I just don't see how $100k wouldn't be life changing to someone, even if they have a lot more money than that.
 
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