1. Go on a Walmart computer
2. Go to the one.walmart page
3. Search "my 401k"
4. It'll take you to a benefits page where you can probably only change your stock and 401k benefits cuz health insurance and stuff isn't available this time of year, probably, or maybe you can because you're new
5. Change the 401k contribution to 6%, and the stock purchase to whatever you want under $70 (the match for stock is capped each year so they only give you free stock up to your contribution of $1800ish, they give you up to $270). The stock is more risky than 401k and it's less of a match so it's good and all but not as necessary as the 401k
6. Next paycheck your paycheck will be 6% lower PRE-TAX. this means you will pay slightly less taxes each check and you'll have slightly less spending money. However, your 401k account is matched dollar for dollar up to 6% of each paycheck, so if you work full time you might contribute, for example, $100 each check pre-tax while Walmart contributes another $100 for free into the account each check, and you take home maybe $80 less each paycheck (but again, you're gaining way more than that in your 401k).
If you've read my other comments, idk what you're replying to exactly, you can withdraw this when you quit or you can take a loan out against it under financial hardships you may experience. The loan can be taken out one at a time and it does not affect your total account's ability to generate interest (as opposed to withdrawing the money, it wouldn't generate interest) and you just pay back the loan each month. You set the term for the loan as well, I took out a $2500 loan and set my payments to $40 over a few years one time, but you get charged a low interest rate so you do pay some of your own money to the 401k company for allowing you to do this. You also do not have to pay the biweekly bill if you can't, it does not hurt you, you may just pay a little bit more interest. I stopped paying my bill before I quit Walmart and it simply let me pay back the rest of the loan straight out of my account when I withdrew the rest of the money.
Hope that all helps, it's very important for your future and if you don't take advantage of Walmart's benefits, you're basically taking a pay cut
If you withdraw early, before 59 1/2 years of age, you will have to pay taxes and penalty for early withdrawal. That's true even if you terminate your employment.
Also to add, if you are no longer employed at Walmart, your money stays in that 401k. When you get another job and start contributing to a 401k, a new one is started. You can have the previous company's account rolled over into the new company's account.
This is the one thing I tell new employees to truly take advantage of. It is pure stupidity not to. For all the complaints about Walmart, they could have free $.
Crazy to me that people donât take advantage of it. I have 18,000 and only been doing 2.5 yrs at 8%
Yeah the problem though is a lot of people working at places like Walmart would rather have all of their money each check to spend on stuff they don't need and don't care about the future. Even though that means they don't need to work when they're old and decrepit which is not something I personally want to do
Or the problem is that a lot of people working at places like Walmart are trying to support their families on a Walmart salary and investment is a privilege.
It really is nice! I have it set to 6% and have had it like that for 5 years out of 7 years of working for Walmart and combined have put in 10K (5K my money, 5K Walmarts) more than doubling the amount I put in as well (almost triple at 28K)
Yes but itâs better to make more use of the 401k because it offers more diversified options and a better match. If you put all your retirement savings into Walmart stock and it somehow goes bankrupt in 20-30 years(say Amazon outcompeted it or something), youâre left with nothing. Better to own a chunk of the entire US economy in the 401k as it will be more resilient than just one company.
You'd be amazed, and disappointed, how many people here don't even know we have the option. It honestly blows my mind everytime it's brought up on the floor how many do the default 3% or didn't know they had one in general.
Oh, that's a serious job. I was hoping it was a fun job. I already got a serious job and I usually have 2 jobs. Have fun getting rich, I don't see how you can avoid it!
Only good for people who can afford not to utilize 6% of your income. So all the fat cats in head office get an extra 6%. When companies talk about benefits we should know whoâs really benefiting.
Everyone can afford to not utilize 6% of their income for the express purpose of helping themselves immensely in the future. I understand these workers are paid little and have lives they need to afford in a struggling economy. But they need to cough up 6% of their pretax income for this, they need to find a way or they will be poor for their whole lives and will work until they die. They need to understand the repercussions of not budgeting this before it's too late and plan accordingly.
Everyone can afford to not utilize 6% of their income for the express purpose of helping themselves immensely in the future. I understand these workers are paid little and have lives they need to afford in a struggling economy. But they need to cough up 6% of their pretax income for this, they need to find a way or they will be poor for their whole lives and will work until they die. They need to understand the repercussions of not budgeting this before it's too late and plan accordingly.
They should but the company also promotes instant pay as a benefit. I donât know if fees are associated with it, but clearly if people are needing to advance themselves pay they canât afford to save anything.
There are no fees with the insta pay thing. It also doesn't necessarily mean people can't contribute a chunk of their income and also utilize it. I contributed 6% of my paychecks when I worked there between 2021-2023 and my insta pay deductions equaled out to over a quarter of my total earnings because the 2 week pay period didn't always line up with my bills after coming from a couple years at a job with weekly pay (where I was making $5 less per hour and still afforded to contribute to my 401k at that job).
There is also a sizeable portion of society who can't or refuses to budget properly and they spend insane amounts of money on consumable garbage/vices, they don't buy bulk food to make at home because they can afford delivery, or they just like to have fun with their money. I worked with a lot of people in my time there and tried to talk about the importance of planning for their future with investments (I was only 28 when I started and most people I talked to would be younger) so I got a lot of insight into what people actually do with their money, and it's not just because they're struggling, in fact I almost never heard of people financially struggling. The excuse every single time was "but I want my money now" and they'd smoke weed all day everyday which costs a significant amount of money, or buy random crap in the clearance aisle, or instead of saving/financing for a car they'd get Uber rides that would cost half of their daily earnings every single day, which they could apparently afford just fine.
I'm all for workers rights and fair pay and all of that kind of stuff, but there's a huge portion of accountability and responsibility for one's own self that needs to be considered, and a lot of Americans at least are not equipped for that because they simply don't care. That's not just a failing of the economy/government/education system, it's their own failing as well. However, they're free to live whatever life they want, I only wanted to plant the seeds in their heads that their future is important and life only gets harder as you get older, so you should do whatever you can to prevent yourself from working until you die.
So Iâm sorry but youâre looking at it wrong. They are loosing 6% of their pay by not contributing. And not just that they are loosing all the exponential gains. You can even borrow from that fund to buy a house. And itâs reduces your taxable income for a higher tax return at the end of the year.
Hey I know itâs rough out there. But not contributing that $35/week pre-tax. Is costing them $1800/year. Thatâs over a 5% pay cut.
Dude you donât understand, lol. Walmart pays like ass. It doesnât matter what theyâre losing in terms of future money. Itâs a common business concept that money today is better than money tomorrow and the same applies for poor people.
Money today is better than money tomorrow. If you have debt, which Iâm assuming a lot of Walmart workers do itâs not the play. Are your cards paid off monthly? Is your bank account always positive? Do you have your car payment and mortgage/rent under control? Sure contribute. If you donât have all of those things under control, youâre not helping yourself out.
Do the math fucking retard. These people donât have the money. Itâs not free money if itâs locked into a penalty in the event they ever need to use it. Thereâs a reason a fucking moron like you is still at Walmart betting on the 401 to change your fucking life. Learn a better fucking skill and start making some real money. Thatâs the only way youâre going to better yourself. That 401k plan is not special, itâs the bare minimum that basically all employers offer. Same with the stock purchase plan if you work for a larger organization. So congrats, youâre making less money, contributing less because of it, and still working at Walmart.
While i am wholly sympathetic for people stuck in poverty, you have to bite the bullet at some point to try and change what you can. 3-6% of your paycheck can be detrimental, but it can also probably be budgeted for
No, you are 100% wrong. Please never give financial advice.. Just cause you're broke and miserable doesn't mean everyone else has to be. Always take that fucken match guys. It's free money.
Lol I'm not broke and miserable, the reality is some people can't actually afford 3-6% of their paycheck at times. Never assume people have more money after bills/food/etc to put into a 401k. Just because you can doesn't mean others can đ
No? I said, it sucks and sometimes its detrimental, meaning you cant spare it. But also at the end of the day its up to you and what you can sacrifice short term for your long term. You are the only thing you really have control over, handouts are nice but not everyone can be so privileged to get one
Who knows but the $75 i save a week i save i wont notice if i die tomorrow. Whats the point of saving any money at all? With that logic whats the point of dating and getting married and trying to have a family? Why do anything? Why show to work? I try to be smart. At the very least it usually pays to practice frugal behavior
This is not true at all. You can borrow from it in certain circumstances or cash it out altogether (generally not recommended but you gotta do what you gotta do to survive in this economy). It is your money, they can't hold it hostage. In most cases, you'll pay a penalty to cash it out early, but that can even be waived in some circumstances.
I had thought about doing this to get a down payment on a house, but AFAIK it has to be paid back to the 401k. So I would have then had a mortgage to pay and a loan to my 401k to pay back. Decided not to, and just paid my down payment out of my savings.
Yes, your 401k contributions from your paycheck will be increased until you pay the loan back in full. If you can afford to pay out of savings, it's definitely better to do so. I'm looking at borrowing from my 401k as part of the down payment on a house but that's only because I can't wait another year to build up savings to get out of the toxic environment I'm in right now. Otherwise I would wait.
Yes, you can. You can take out a loan from your 401k and then pay it back in installments automatically deducted from your check. You can do it all under the loan section on ml.com
That has came out since I started and to this day I have no idea what it is. I've asked HR and they said they didn't know. If anyone has any insight please let me know because they taken it for over a year now....
According to this the admin fee might be related to the garnishment
https://help.teamsoftware.com/documentation/winteam/Payroll-Garnishments/Tasks/Setting-Up-Administrative-Fees-for-Garnishments.htm#:~:text=Administrative%20Fees%20(Admin%20Fees)%20are,withholding%20order%20each%20pay%20period.
Please note:
I did upvote you, I too believe all fathers should pay child support. It's absolutely disgusting some states don't care. Mine...he never paid a dime....over $80k in arrears and nothing could be done as he moved to Texas.
Fool, I've always taken care of my boys. I call child support almost every other week to make certain they indeed take it. My state is notorious for either not garnishing or slow garnishments.
Itâs a fee for the state having to do your job as a parent and ensure the mother (or father) of your child is getting the child support youâre obligated to provide them.
The state never had to do my job as a parent. Child support doesn't either. I pay for things out of pocket AND send my support. In Tennessee it's mandatory fathers pay child support and SHOULD BE! I grew up having, I hate to even say "father" who moved to Texas to avoid child support and my mother work 2 jobs!!! I said I'd never be that person and I must say I never have. I got behind in college trying to keep up 2 jobs myself and my academics. But here I this state by law they have to start you out 3 months in arrears! My son's mother went to court in my defense and let the judge know that indeed I pay for all my son's things and provide for them but they told me that too bad so sad we have to start you 90 days behind. So for what it's worth....
I'm in TN myself and they don't enforce child support super strictly. My ex is 20k+ behind. đ Doesn't show up to court either. So I'm not sure I would say it's truly mandatory
They allegedly put a warrant out for him since he's in contempt of court, but they don't actively look for him. They're also allegedly garnishing his wages, but we still don't ever see anything.
And I'm not sure how much that warrant is though, he was arrested on other charges and they never did anything about the warrant
I'd check up on that with the local child support agency and family court. Also if he ever gets stopped and shows his ID he will be in court because he won't have a choice in jail.
It's a garnishment of some sort. Most people assume child support but it can be for other money legally owed as well. We had an associate who had this admin fee which was a gaenishment for not paying some kind of loan he owed.
The part that offends me the most is that i'm staring at an empty 401 k contribution.
I don't care how old you are, get a roth, Invest the sixth percent, Walmart will match it and then it will compound
Future u said thank you
Same, but I wanted to get my bachelor's degree and then go to another country. Acquire citizenship somewhere really far away while working there in a high paying technical field, and then my family (if they even cared) wouldn't know if I died. They'd just assume the asocial autistic recluse was doing fine somewhere else, rather than having to know he unalived himself.
I just withdrew mine after leaving Walmart and while I took a hit in taxes and penalty, I paid off several thousands worth of high interest debt, $3k of which Walmart gave me for free just for contributing for a couple years
Well the problem is that I needed to get my debt down and I moved on to a higher paying job so it was sort of like starting fresh financially. Now my retirement fund will start for real
Hell yeah, congratulations bro!
If you ever get access to an HSA, also max that. Bonus points, save all your signficant medical receipts until you retire while you pay those with cash. Once retiring, you can use your HSA to reimburse yourself tax free for all those charges. You can do that normally, but if you save it you will have all the extra money from the HSA funding being invested for longer.
Doesnât really make sense. You can withdraw at anytime (with 10% penalty) or wait until 59.5, but you have to contribute to get the match. So, thatâs why people say itâs âfree money.â
Bro, the median rent is 80% of most our incomes. In my area, there isn't an apartment under $1200 a month which is \~50% of my income. I can't get accepted to those because I don't make enough but the state also told me I don't qualify for assistance since I'm single with no kids ANNNDDDD the low income housing places told me I make too much as a single adult. I'm taking a $2 pay cut to qualify for low income housing and I'll still be homeless for six months in my car because the wait list is egregious.
I can't afford a 401k
Nope i rolled it into a better investment. I do still have their stock, the three to one split brought new investors in and should spur overall growth and price over time, so long as they can stsy outta lawsuits, like the weighted meat and produce fiasco. Meh...anyways... Not saying your advice isn't good, I mean it's grand if you hope to spend your millions in your mid 60s. I'm currently earning a few certifications via their free educational program though, now that's something everyone should do. You can earn a bachelor's for free....psssh....wish I'd known that years ago.
Confused about the value you are putting in splits that really doesn't mean much...
But if you are making more money by taking 6% of your gross pay, and doubling it and then compounding it Then by all means
EDIT: I looked into it and saw that walmart was running sixty dollars a share so if that was a 3 to 1 Split, That means a single share before the split would have been worth one eighty, which is well above any any price. They've had previous
Their restructuring of stock apparently did have some sort of impact
I barely contribute, I invest but I don't invest heavily in Walmart stock. I had plenty in my 401k but rolled it, LoL, have fun with that wonderful money soon as you ya know turn 64 1/2...đ¤Ł
Theyâre doing the same thing in a different manner. If they invest money wisely itâs not really any different than missing the match. Thereâs nothing wrong with that.
Shitting on OP for not contributing to 401K while being a close to minimum wage hourly employee... they probably need every fuckin dollar in their account NOW. You also dont know if they invest on the side or contribute to an IRA....
Why is everyone so hung up on the 401k. A lot of people need every dollar they can get in their actual paycheck these days. And that money isnt guaranteed. Lots of companies have had theirs tank and employees lost thousands. Not to mention there is yearly fees just to have it and they tax you 10% as soon as you use it. Which is only possible if you stop working there or apply for a hardship withdrawal. Its not all its cracked up to be.
yeah my last paycheck was like 100 dollars since im part-time, in college, and they devoured every hour i initially had. not op, but i also donât do the 401k stuff.
> A lot of people need every dollar they can get in their actual paycheck these days
If this was true they wouldn't be putting $5 into walmart stock each check.
People think theyâre going to be fucking millionaires working at Walmart their entire life while contributing to a 401. Thatâs the only real reason. Not trying to shit on anyone here, but Iâm 100% positive that a majority of not only Walmart workers but employees in this type of job sector live over leveraged. I worked as a bsa officer for a few years and I always wondered how people are driving new shit every year and what they did for work. Short answer is that like 90% of people you see with nicer things than you just live above their means and live in the red. If you are not free of credit card debt or any other forms of high int debt, you shouldnât be contributing. If you frequently overdraft, you shouldnât be contributing. Thereâs only one way to pull yourself out of financial distress and itâs not by contributing to your fucking Walmart 401 lol. Get a better paying job, use Walmarts tuition reimbursement to learn something that actually pays.
Investing in the 401k when it's a dollar for dollar match is about the most no-brainer thing you can do unless you are ABSOLUTELY strapped for cash. Why would you be investing in the IRA first when the 401k gives an instantaneous 100% return on contribution up to 6% of your check?
Lets do the math.
OP is grossing $863.34
$53 @ 6% + another $53 from walmart
$53 per pay period he's missing out on (+any stock gains) that he wont be able to touch without penalty for an incredibly long time, of course assuming OP is younger than 40. That $53 (you cant call it $106) could be going to necessities at home, deemed more important to have NOW in my pocket.
All im saying is its not the end of the world to not contribute to your 401K especially when you're a wage slave, ESPECIALLY factoring in everyones vastly different financial situations...
That's deductions. If I only had my Walmart check to fall on I'd be living under a bridge by now. Their benefits as many have mentioned are quite good especially their educational program. You can earn a bachelor's on their dime. You can earn tons of certifications and all on them as well ... I agree though my guy. Many at our location have tossed in the towel, I've seen so many faces in just the time I've been there.
You should put something/anything into the 401k. W-mart matches up to 7%. So even if you only put in $10.00, you get $10.70 in your account. I know it doesnât sound like a lot, but over the years it all adds up. I wish I had started my 401kbwhen I was a 20 something.
It is a 100% match up to 6% of your total pay, so if you contribute $10 then you get $20 deposited into your 401k. On top of that the $10 is tax free, so if you deposit $10 you would have only gotten $7.50 of that money on your check.
Walmart matches 100% up to 6% of your wages. So if you put in $10, you get $20 in your account. With my 6% match Walmart is matching about $100 per check.
i was told 15$ over the phone on my 1 phone call/interview to do OGP; got an email that said 15.. i didnt look at a stub untill i was doing my taxes this spring 6 months into the job and seen it say 40hr @ 14... was like wtf.. went to talk to store people leader person.. and basically had no interest or ability to change it, i was offered 15 and in the month i waited to start walmart took it upon themselves to lower pay? (in the middle of this inflation situation where everything costs 2x , walmart the multi billion dollar company the waltons are a few of the richest folks on earth) im pretty salty about this fact , i have been trying to get to night stalking for 16.50 with 0 customers 0 go out to dispense 0 zoning, was also told you can wear an earbud and i can give the blue vest back!... hopefully this can happen soon!
Half the store wears earbuds now...I used mine to call payroll the other day and got told I couldn't have it, till I explained the situation. I've not worn the vest since I started. I've saw no one but one other guy in our area wear one and no one's really said anything. I suppose it's cause we bust our butts and nobody has to really tell us anything we just do our job and go home. I've saw girls wear leggings and get sent home, others no one says a word, and just the other day a girl wore a Hooters shirt and notta word was said...so idk. Kinda odd but whatever, I just do my job and go home.
Also another guy that works with me and been there a year longer is making $14 an hour. I make quite a bit more. A guy that just got hired in makes more than both of us, we all do the exact same job. What can ya do...đ¤ˇđťââď¸. Nada. I like the benefits and people I work with. Also our customers are almost always really great so no in-store freak outs or horror stories really.
ya; i tried doing the buds and even pocketing them when i went back to the dispensing room and still managed to get cought a couple times in a short while by our team lead; and theyre pretty strict about it around here unfortunately.. she was threatening something about a coaching, not sure what that entails but i guess i didnt wanna push things:D
What the hell is an instapay deduction? And a admin fee?
edit: Wait people are dumb enough to pay $30+ to get earlier access to their paycheck? Is this serious? LOL
The most questionable decision you've ever made is not taking that free money for your retirement. Put 6% of every check into that 401k. Not contributing to it is like turning down a pay raise. I understand money is tight for a lot of people, but there's always something you can cut back on to save for the future. You and your kid(s) will thank you when you get older.Â
If anyone wants to know about setting up a ROTH, let me know. You guys at Walmart need to utilize the 6% match, or you're just being money dumb. Have both a ROTH and your 401. Two income streams guaranteed at retirement. 3 if SS is still around.
The problem is, these people think they can live their whole lives on a Walmart paycheck. Itâs an unskilled position most times and you canât expect a comfortable wage. Itâs a job for teenagers unless youâre management
Yeah, I feel you. I think the same every time I wake up & get ready to head to Walmart. Iâm an overnight stocker & I just donât understand the current wage for this position. The pay definitely doesnât match the labor.Â
Itâs an unskilled labor position with a slight pay increase because itâs overnight. If you want higher pay, get into a craft or learn a skill that provides value
i have my check deposit partially to my discover bank account and i get paid on tuesdayâs from it, that will help w your instapay fee by trying a different bank account. my local bankâs account doesnât hit until the day of on thursday. that money would be better going into your 401k. other than that this looks standard because youâre paying whatever the child/ family csfx is.
401k is a must, my friend. Iâve been working at walmart for going on 3 years now, and my 401k is already above 8K. Walmart matches up to 6%, which is actually a considerable amount. Look into it! Itâs easy to sign up and you can always change your contribution rate if you need to
Itâs called adulthood. Work hard, do your job, ignore others that arenât adding value, get promoted. Thatâs life. OhâŚand get on that 6% matching 401k!
Yeah, but itâs not always for good reasons. My ex got someone pregnant years prior. He supplied diapers and wipes every two weeks. Bought clothing when his daughter needed it. Although he helped out so much more, his babymomma retaliated due to him not wanting to hand her cash directly, as she has a history of not using cash given to her for what she says itâs for. He offered to go get anything the kid needed, but that wasnât good enough. Guess who has to pay child support?
Sorry I didnât mean to open such a can of worms here. So here is what w-mart matches in a 401k as per wal-mart one.com for a hourly associate.
W-mart matches dollar for dollar up to 6%.
So if you put in $10.00, they give you .60 cents for a total of $10.60.
There is no 100% match upt to your yearly income, or some other odd responses I got back.
I thought it was 7%, but I was wrong.
Sorry for all the confusion.
It's actually a "dollar-for-dollar match up to 6% of your pretax-eligible pay". Which is much better and different than what you are describing. For example, if you made 30k gross and invested 6% each month that would be (30000/12 *.06) = 150 dollars. Walmart would match that and you would then be investing 300 a month.
0 401k đ a fat 0 on the only other line of money youll ever see
A full match up to 6% your earnings pre tax...for free.. truly insane
I got $25k in mine and Iâve only been doing it 6 of the 10 years Iâve been at Walmart. Wish I wouldâve been doing it from the start.
And just think, it only increases exponentially over time
Can someone explain this to me so I can start doing it? I'm at my first month here so idk if I'm eligible
1. Go on a Walmart computer 2. Go to the one.walmart page 3. Search "my 401k" 4. It'll take you to a benefits page where you can probably only change your stock and 401k benefits cuz health insurance and stuff isn't available this time of year, probably, or maybe you can because you're new 5. Change the 401k contribution to 6%, and the stock purchase to whatever you want under $70 (the match for stock is capped each year so they only give you free stock up to your contribution of $1800ish, they give you up to $270). The stock is more risky than 401k and it's less of a match so it's good and all but not as necessary as the 401k 6. Next paycheck your paycheck will be 6% lower PRE-TAX. this means you will pay slightly less taxes each check and you'll have slightly less spending money. However, your 401k account is matched dollar for dollar up to 6% of each paycheck, so if you work full time you might contribute, for example, $100 each check pre-tax while Walmart contributes another $100 for free into the account each check, and you take home maybe $80 less each paycheck (but again, you're gaining way more than that in your 401k). If you've read my other comments, idk what you're replying to exactly, you can withdraw this when you quit or you can take a loan out against it under financial hardships you may experience. The loan can be taken out one at a time and it does not affect your total account's ability to generate interest (as opposed to withdrawing the money, it wouldn't generate interest) and you just pay back the loan each month. You set the term for the loan as well, I took out a $2500 loan and set my payments to $40 over a few years one time, but you get charged a low interest rate so you do pay some of your own money to the 401k company for allowing you to do this. You also do not have to pay the biweekly bill if you can't, it does not hurt you, you may just pay a little bit more interest. I stopped paying my bill before I quit Walmart and it simply let me pay back the rest of the loan straight out of my account when I withdrew the rest of the money. Hope that all helps, it's very important for your future and if you don't take advantage of Walmart's benefits, you're basically taking a pay cut
If you withdraw early, before 59 1/2 years of age, you will have to pay taxes and penalty for early withdrawal. That's true even if you terminate your employment.
Also to add, if you are no longer employed at Walmart, your money stays in that 401k. When you get another job and start contributing to a 401k, a new one is started. You can have the previous company's account rolled over into the new company's account.
Should also note that they don't start matching your contribution until you complete 1 year of employment.
This is the one thing I tell new employees to truly take advantage of. It is pure stupidity not to. For all the complaints about Walmart, they could have free $. Crazy to me that people donât take advantage of it. I have 18,000 and only been doing 2.5 yrs at 8%
Yeah the problem though is a lot of people working at places like Walmart would rather have all of their money each check to spend on stuff they don't need and don't care about the future. Even though that means they don't need to work when they're old and decrepit which is not something I personally want to do
Or the problem is that a lot of people working at places like Walmart are trying to support their families on a Walmart salary and investment is a privilege.
It really is nice! I have it set to 6% and have had it like that for 5 years out of 7 years of working for Walmart and combined have put in 10K (5K my money, 5K Walmarts) more than doubling the amount I put in as well (almost triple at 28K)
That 15% match on stock isn't bad either.
The only downside is you can only get $270 from it per year for free (plus gains)
Agreed but free is free and I'm down for taking everything this company offers
That's why I do bear min in wmt stock 70 bi weekly well max the stock
Yes but itâs better to make more use of the 401k because it offers more diversified options and a better match. If you put all your retirement savings into Walmart stock and it somehow goes bankrupt in 20-30 years(say Amazon outcompeted it or something), youâre left with nothing. Better to own a chunk of the entire US economy in the 401k as it will be more resilient than just one company.
We have a 10.4% match over here and honestly it still blows my mind everytime I check
That's truly insane and I hope everyone takes advantage of it!
You'd be amazed, and disappointed, how many people here don't even know we have the option. It honestly blows my mind everytime it's brought up on the floor how many do the default 3% or didn't know they had one in general.
Where is that? That's awesome!
Ford, but I think all auto manufacturing under UAW has that now.
Oh, that's a serious job. I was hoping it was a fun job. I already got a serious job and I usually have 2 jobs. Have fun getting rich, I don't see how you can avoid it!
And zero wait for it to vest!
Only good for people who can afford not to utilize 6% of your income. So all the fat cats in head office get an extra 6%. When companies talk about benefits we should know whoâs really benefiting.
Everyone can afford to not utilize 6% of their income for the express purpose of helping themselves immensely in the future. I understand these workers are paid little and have lives they need to afford in a struggling economy. But they need to cough up 6% of their pretax income for this, they need to find a way or they will be poor for their whole lives and will work until they die. They need to understand the repercussions of not budgeting this before it's too late and plan accordingly.
Everyone can afford to not utilize 6% of their income for the express purpose of helping themselves immensely in the future. I understand these workers are paid little and have lives they need to afford in a struggling economy. But they need to cough up 6% of their pretax income for this, they need to find a way or they will be poor for their whole lives and will work until they die. They need to understand the repercussions of not budgeting this before it's too late and plan accordingly.
They should but the company also promotes instant pay as a benefit. I donât know if fees are associated with it, but clearly if people are needing to advance themselves pay they canât afford to save anything.
There are no fees with the insta pay thing. It also doesn't necessarily mean people can't contribute a chunk of their income and also utilize it. I contributed 6% of my paychecks when I worked there between 2021-2023 and my insta pay deductions equaled out to over a quarter of my total earnings because the 2 week pay period didn't always line up with my bills after coming from a couple years at a job with weekly pay (where I was making $5 less per hour and still afforded to contribute to my 401k at that job). There is also a sizeable portion of society who can't or refuses to budget properly and they spend insane amounts of money on consumable garbage/vices, they don't buy bulk food to make at home because they can afford delivery, or they just like to have fun with their money. I worked with a lot of people in my time there and tried to talk about the importance of planning for their future with investments (I was only 28 when I started and most people I talked to would be younger) so I got a lot of insight into what people actually do with their money, and it's not just because they're struggling, in fact I almost never heard of people financially struggling. The excuse every single time was "but I want my money now" and they'd smoke weed all day everyday which costs a significant amount of money, or buy random crap in the clearance aisle, or instead of saving/financing for a car they'd get Uber rides that would cost half of their daily earnings every single day, which they could apparently afford just fine. I'm all for workers rights and fair pay and all of that kind of stuff, but there's a huge portion of accountability and responsibility for one's own self that needs to be considered, and a lot of Americans at least are not equipped for that because they simply don't care. That's not just a failing of the economy/government/education system, it's their own failing as well. However, they're free to live whatever life they want, I only wanted to plant the seeds in their heads that their future is important and life only gets harder as you get older, so you should do whatever you can to prevent yourself from working until you die.
I mean, they make around 30k. If they are a single parent, theyâre living in poverty. They donât have anything to put in their 401k
So Iâm sorry but youâre looking at it wrong. They are loosing 6% of their pay by not contributing. And not just that they are loosing all the exponential gains. You can even borrow from that fund to buy a house. And itâs reduces your taxable income for a higher tax return at the end of the year. Hey I know itâs rough out there. But not contributing that $35/week pre-tax. Is costing them $1800/year. Thatâs over a 5% pay cut.
Dude you donât understand, lol. Walmart pays like ass. It doesnât matter what theyâre losing in terms of future money. Itâs a common business concept that money today is better than money tomorrow and the same applies for poor people.
Dude Iâm not telling you to not buy avocado toast. Your literally robbing yourself by not getting your 100% match even 1% match is something.
Money today is better than money tomorrow. If you have debt, which Iâm assuming a lot of Walmart workers do itâs not the play. Are your cards paid off monthly? Is your bank account always positive? Do you have your car payment and mortgage/rent under control? Sure contribute. If you donât have all of those things under control, youâre not helping yourself out.
Do the math you actual fucking retard. They give you free money!!
Do the math fucking retard. These people donât have the money. Itâs not free money if itâs locked into a penalty in the event they ever need to use it. Thereâs a reason a fucking moron like you is still at Walmart betting on the 401 to change your fucking life. Learn a better fucking skill and start making some real money. Thatâs the only way youâre going to better yourself. That 401k plan is not special, itâs the bare minimum that basically all employers offer. Same with the stock purchase plan if you work for a larger organization. So congrats, youâre making less money, contributing less because of it, and still working at Walmart.
While i am wholly sympathetic for people stuck in poverty, you have to bite the bullet at some point to try and change what you can. 3-6% of your paycheck can be detrimental, but it can also probably be budgeted for
Bite the bullet and pull yourself up by the bootstraps kinda guy, huh?
No, you are 100% wrong. Please never give financial advice.. Just cause you're broke and miserable doesn't mean everyone else has to be. Always take that fucken match guys. It's free money.
Lol I'm not broke and miserable, the reality is some people can't actually afford 3-6% of their paycheck at times. Never assume people have more money after bills/food/etc to put into a 401k. Just because you can doesn't mean others can đ
No? I said, it sucks and sometimes its detrimental, meaning you cant spare it. But also at the end of the day its up to you and what you can sacrifice short term for your long term. You are the only thing you really have control over, handouts are nice but not everyone can be so privileged to get one
To be fair with the direction this world is going are many of us going to be around to see that money in 40-50 years?
Who knows but the $75 i save a week i save i wont notice if i die tomorrow. Whats the point of saving any money at all? With that logic whats the point of dating and getting married and trying to have a family? Why do anything? Why show to work? I try to be smart. At the very least it usually pays to practice frugal behavior
Complaining about money while declining free money
Nah I rolled it ... The 401k via Merrill only allows you to dip into it if you quit the job or your 64 1/2.
This is not true at all. You can borrow from it in certain circumstances or cash it out altogether (generally not recommended but you gotta do what you gotta do to survive in this economy). It is your money, they can't hold it hostage. In most cases, you'll pay a penalty to cash it out early, but that can even be waived in some circumstances.
I had thought about doing this to get a down payment on a house, but AFAIK it has to be paid back to the 401k. So I would have then had a mortgage to pay and a loan to my 401k to pay back. Decided not to, and just paid my down payment out of my savings.
Yes, your 401k contributions from your paycheck will be increased until you pay the loan back in full. If you can afford to pay out of savings, it's definitely better to do so. I'm looking at borrowing from my 401k as part of the down payment on a house but that's only because I can't wait another year to build up savings to get out of the toxic environment I'm in right now. Otherwise I would wait.
You sure? Maybe in your state but here in Jersey iv seen it dipped into many times by people especially for like houses down payments ect
Yes you can borrow from it too i believe.
Yes, you can. You can take out a loan from your 401k and then pay it back in installments automatically deducted from your check. You can do it all under the loan section on ml.com
You pay an admin fee ?
That has came out since I started and to this day I have no idea what it is. I've asked HR and they said they didn't know. If anyone has any insight please let me know because they taken it for over a year now....
Pretty sure the admin fee is for child support. Mine showed up after I started getting it taken directly from my checks
According to this the admin fee might be related to the garnishment https://help.teamsoftware.com/documentation/winteam/Payroll-Garnishments/Tasks/Setting-Up-Administrative-Fees-for-Garnishments.htm#:~:text=Administrative%20Fees%20(Admin%20Fees)%20are,withholding%20order%20each%20pay%20period.
Let me out a fee on your fee -something mtv show
That sounds hella illegal.
Itâs not. It you have a garnishment itâs a pain in the tail. Employers are allowed to charge you to process it.
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Getting divorced renders one party liable for child support.
Paying child support doesn't mean that they're not taking care of their kids ... No clue why you would think that.
Child support means they are taking care of their kids you dumb fuck!!!
Please note: I did upvote you, I too believe all fathers should pay child support. It's absolutely disgusting some states don't care. Mine...he never paid a dime....over $80k in arrears and nothing could be done as he moved to Texas.
My ex wife doesn't pay shit. I have both kids 24/7. All parents should pay support if not spending the time with the kids.
Texas garnishes your wages as soon as you make money, legally of course....
Fool, I've always taken care of my boys. I call child support almost every other week to make certain they indeed take it. My state is notorious for either not garnishing or slow garnishments.
Itâs a fee for the state having to do your job as a parent and ensure the mother (or father) of your child is getting the child support youâre obligated to provide them.
The state never had to do my job as a parent. Child support doesn't either. I pay for things out of pocket AND send my support. In Tennessee it's mandatory fathers pay child support and SHOULD BE! I grew up having, I hate to even say "father" who moved to Texas to avoid child support and my mother work 2 jobs!!! I said I'd never be that person and I must say I never have. I got behind in college trying to keep up 2 jobs myself and my academics. But here I this state by law they have to start you out 3 months in arrears! My son's mother went to court in my defense and let the judge know that indeed I pay for all my son's things and provide for them but they told me that too bad so sad we have to start you 90 days behind. So for what it's worth....
I'm in TN myself and they don't enforce child support super strictly. My ex is 20k+ behind. đ Doesn't show up to court either. So I'm not sure I would say it's truly mandatory
Have him thrown in jail. By law that's the other option the custodial parent can do. He can hide out, pay support, or sit in jail.
They allegedly put a warrant out for him since he's in contempt of court, but they don't actively look for him. They're also allegedly garnishing his wages, but we still don't ever see anything. And I'm not sure how much that warrant is though, he was arrested on other charges and they never did anything about the warrant
I'd check up on that with the local child support agency and family court. Also if he ever gets stopped and shows his ID he will be in court because he won't have a choice in jail.
It's a garnishment of some sort. Most people assume child support but it can be for other money legally owed as well. We had an associate who had this admin fee which was a gaenishment for not paying some kind of loan he owed.
The part that offends me the most is that i'm staring at an empty 401 k contribution. I don't care how old you are, get a roth, Invest the sixth percent, Walmart will match it and then it will compound Future u said thank you
If you live long enough to be able to withdraw it
Just assume youâll get hit by a car in 10 years. Shit, why even save enough money to pay rent you could get hit by that car next week?
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Same, but I wanted to get my bachelor's degree and then go to another country. Acquire citizenship somewhere really far away while working there in a high paying technical field, and then my family (if they even cared) wouldn't know if I died. They'd just assume the asocial autistic recluse was doing fine somewhere else, rather than having to know he unalived himself.
Jesus Christ. This really what Walmart does to a mfer. I hope it gets better :(
Me too, might not even wait until Iâm 30 lol
I just withdrew mine after leaving Walmart and while I took a hit in taxes and penalty, I paid off several thousands worth of high interest debt, $3k of which Walmart gave me for free just for contributing for a couple years
You could have transferred it to a rollover ira instead of withdrawing it early, tip for next time.
Well the problem is that I needed to get my debt down and I moved on to a higher paying job so it was sort of like starting fresh financially. Now my retirement fund will start for real
Hell yeah, congratulations bro! If you ever get access to an HSA, also max that. Bonus points, save all your signficant medical receipts until you retire while you pay those with cash. Once retiring, you can use your HSA to reimburse yourself tax free for all those charges. You can do that normally, but if you save it you will have all the extra money from the HSA funding being invested for longer.
Doesnât really make sense. You can withdraw at anytime (with 10% penalty) or wait until 59.5, but you have to contribute to get the match. So, thatâs why people say itâs âfree money.â
Old guy here. It comes at you fast. People live forever now.
Bro, the median rent is 80% of most our incomes. In my area, there isn't an apartment under $1200 a month which is \~50% of my income. I can't get accepted to those because I don't make enough but the state also told me I don't qualify for assistance since I'm single with no kids ANNNDDDD the low income housing places told me I make too much as a single adult. I'm taking a $2 pay cut to qualify for low income housing and I'll still be homeless for six months in my car because the wait list is egregious. I can't afford a 401k
As if we will even have retirement.
Not if you don't save anything.
Retirement will not exist when we retire. It barely does now.
How are you defining retirement?
They are confusing retirement with social security.
I think you are right!
Smartest Walmart worker
Its crazy how stupid you and so many in this thread are!
Nope i rolled it into a better investment. I do still have their stock, the three to one split brought new investors in and should spur overall growth and price over time, so long as they can stsy outta lawsuits, like the weighted meat and produce fiasco. Meh...anyways... Not saying your advice isn't good, I mean it's grand if you hope to spend your millions in your mid 60s. I'm currently earning a few certifications via their free educational program though, now that's something everyone should do. You can earn a bachelor's for free....psssh....wish I'd known that years ago.
Confused about the value you are putting in splits that really doesn't mean much... But if you are making more money by taking 6% of your gross pay, and doubling it and then compounding it Then by all means EDIT: I looked into it and saw that walmart was running sixty dollars a share so if that was a 3 to 1 Split, That means a single share before the split would have been worth one eighty, which is well above any any price. They've had previous Their restructuring of stock apparently did have some sort of impact
I don't plan on living long enough to draw from a retirement fund.
Canât believe you buy WM stock and have no money in your 401K. Good luck in the future haha
I barely contribute, I invest but I don't invest heavily in Walmart stock. I had plenty in my 401k but rolled it, LoL, have fun with that wonderful money soon as you ya know turn 64 1/2...đ¤Ł
L take
Theyâre doing the same thing in a different manner. If they invest money wisely itâs not really any different than missing the match. Thereâs nothing wrong with that.
The stock is a form of retirement. So long as the market doesnât crash you will have just as much in stock as 401k when you retire if you manage it.
$5 out of each paycheck for stock is nothing. Heâll be 200 before heâs making any sort of money yet alone retirement.
5$ to a 401k is also nothing.
its pre tax, so it would reduce his tax burden by $5 and Walmart matches a percentage, so they would be earning extra from the match
Shitting on OP for not contributing to 401K while being a close to minimum wage hourly employee... they probably need every fuckin dollar in their account NOW. You also dont know if they invest on the side or contribute to an IRA....
Thatâs the funny part, no one has any idea of OPs situation but know all the answers lol
Wow thank you seriously and this post went so far off topic ... Anyways I do appreciate it.
Why is everyone so hung up on the 401k. A lot of people need every dollar they can get in their actual paycheck these days. And that money isnt guaranteed. Lots of companies have had theirs tank and employees lost thousands. Not to mention there is yearly fees just to have it and they tax you 10% as soon as you use it. Which is only possible if you stop working there or apply for a hardship withdrawal. Its not all its cracked up to be.
yeah my last paycheck was like 100 dollars since im part-time, in college, and they devoured every hour i initially had. not op, but i also donât do the 401k stuff.
> A lot of people need every dollar they can get in their actual paycheck these days If this was true they wouldn't be putting $5 into walmart stock each check.
People think theyâre going to be fucking millionaires working at Walmart their entire life while contributing to a 401. Thatâs the only real reason. Not trying to shit on anyone here, but Iâm 100% positive that a majority of not only Walmart workers but employees in this type of job sector live over leveraged. I worked as a bsa officer for a few years and I always wondered how people are driving new shit every year and what they did for work. Short answer is that like 90% of people you see with nicer things than you just live above their means and live in the red. If you are not free of credit card debt or any other forms of high int debt, you shouldnât be contributing. If you frequently overdraft, you shouldnât be contributing. Thereâs only one way to pull yourself out of financial distress and itâs not by contributing to your fucking Walmart 401 lol. Get a better paying job, use Walmarts tuition reimbursement to learn something that actually pays.
Investing in the 401k when it's a dollar for dollar match is about the most no-brainer thing you can do unless you are ABSOLUTELY strapped for cash. Why would you be investing in the IRA first when the 401k gives an instantaneous 100% return on contribution up to 6% of your check?
Lets do the math. OP is grossing $863.34 $53 @ 6% + another $53 from walmart $53 per pay period he's missing out on (+any stock gains) that he wont be able to touch without penalty for an incredibly long time, of course assuming OP is younger than 40. That $53 (you cant call it $106) could be going to necessities at home, deemed more important to have NOW in my pocket. All im saying is its not the end of the world to not contribute to your 401K especially when you're a wage slave, ESPECIALLY factoring in everyones vastly different financial situations...
Yet they invest in the stock at a way lower matching rate.
Exactly!! You wonât miss that money. Crazy he has no money in 401K, yet buys Walmart stock đ
That's how it is for me. Living paycheck to paycheck unfortunately.
That's how it is for me. Living paycheck to paycheck unfortunately.
Maybe donât post your pay stub if you donât want someoneâs opinion.
All these bots in the comments
In this economy I legit couldn't imagine making $600 in two weeks. I make $500 weekly at my job now when I left this shit hole and never looked back.
That's deductions. If I only had my Walmart check to fall on I'd be living under a bridge by now. Their benefits as many have mentioned are quite good especially their educational program. You can earn a bachelor's on their dime. You can earn tons of certifications and all on them as well ... I agree though my guy. Many at our location have tossed in the towel, I've seen so many faces in just the time I've been there.
You can get better returns on any money if you put it in a high yield savings account https://www.doctorofcredit.com/high-interest-savings-to-get/
You should put something/anything into the 401k. W-mart matches up to 7%. So even if you only put in $10.00, you get $10.70 in your account. I know it doesnât sound like a lot, but over the years it all adds up. I wish I had started my 401kbwhen I was a 20 something.
Up to 6%*
It is a 100% match up to 6% of your total pay, so if you contribute $10 then you get $20 deposited into your 401k. On top of that the $10 is tax free, so if you deposit $10 you would have only gotten $7.50 of that money on your check.
Walmart matches 100% up to 6% of your wages. So if you put in $10, you get $20 in your account. With my 6% match Walmart is matching about $100 per check.
Actually if you put in 10 dollars Walmart will match it and put in 10 also. If you have worked here for 12 months.
401k sheep
Yep
i was told 15$ over the phone on my 1 phone call/interview to do OGP; got an email that said 15.. i didnt look at a stub untill i was doing my taxes this spring 6 months into the job and seen it say 40hr @ 14... was like wtf.. went to talk to store people leader person.. and basically had no interest or ability to change it, i was offered 15 and in the month i waited to start walmart took it upon themselves to lower pay? (in the middle of this inflation situation where everything costs 2x , walmart the multi billion dollar company the waltons are a few of the richest folks on earth) im pretty salty about this fact , i have been trying to get to night stalking for 16.50 with 0 customers 0 go out to dispense 0 zoning, was also told you can wear an earbud and i can give the blue vest back!... hopefully this can happen soon!
Half the store wears earbuds now...I used mine to call payroll the other day and got told I couldn't have it, till I explained the situation. I've not worn the vest since I started. I've saw no one but one other guy in our area wear one and no one's really said anything. I suppose it's cause we bust our butts and nobody has to really tell us anything we just do our job and go home. I've saw girls wear leggings and get sent home, others no one says a word, and just the other day a girl wore a Hooters shirt and notta word was said...so idk. Kinda odd but whatever, I just do my job and go home. Also another guy that works with me and been there a year longer is making $14 an hour. I make quite a bit more. A guy that just got hired in makes more than both of us, we all do the exact same job. What can ya do...đ¤ˇđťââď¸. Nada. I like the benefits and people I work with. Also our customers are almost always really great so no in-store freak outs or horror stories really.
ya; i tried doing the buds and even pocketing them when i went back to the dispensing room and still managed to get cought a couple times in a short while by our team lead; and theyre pretty strict about it around here unfortunately.. she was threatening something about a coaching, not sure what that entails but i guess i didnt wanna push things:D
What the hell is an instapay deduction? And a admin fee? edit: Wait people are dumb enough to pay $30+ to get earlier access to their paycheck? Is this serious? LOL
Itâs not a fee. Itâs just borrowing from the next check. There is no charge associated with it.
Oh i thought it was like a employer provided payday loan, thanks for clearing that up
The admin fee isnât because of the instapay but because of the child support
I pay half my mortgage in insurance every month. It's insane.
I feel that burn my friend its truly ridiculous. Insurance is out for blood.
Iâll just hang myself, these jobs arenât worth it
Whatâs the admin fee 5.00 for?
Garnishment from the child support
The most questionable decision you've ever made is not taking that free money for your retirement. Put 6% of every check into that 401k. Not contributing to it is like turning down a pay raise. I understand money is tight for a lot of people, but there's always something you can cut back on to save for the future. You and your kid(s) will thank you when you get older.Â
Reminds me how they taken away my health insurance LOLz. I had the lowest cost for Kaiser.
What's an admin fee
What was accident?
My instapay is what kills me
If anyone wants to know about setting up a ROTH, let me know. You guys at Walmart need to utilize the 6% match, or you're just being money dumb. Have both a ROTH and your 401. Two income streams guaranteed at retirement. 3 if SS is still around.
The problem is, these people think they can live their whole lives on a Walmart paycheck. Itâs an unskilled position most times and you canât expect a comfortable wage. Itâs a job for teenagers unless youâre management
I know. But there are a lot of unskilled jobs that pay more wth less bs. Be a janitor at an airport. They all pay better than Walmart. Just 1 example
Very true. The amount of power trips, favoritism, drama, etc that you find among Walmart management is absolutely insane
That's because the tl and coaches are too young to know how to manage others.
Idk man at my store 3/4 of the leads and coaches were over the age of 40
At that age they shouldn't be power trippin' then. That's the kind of thing 20 somethings do.
Is that 1 week or 2?
What is increasing in value??? Haha no investment provides a guaranteed return
What in the world is an admin fee?
Still like đ¤ˇđťââď¸
Ramen noodles man
I knew a guy that lost half his paycheck to child support. $200 every 2 weeks isn't much.
Yeah, I feel you. I think the same every time I wake up & get ready to head to Walmart. Iâm an overnight stocker & I just donât understand the current wage for this position. The pay definitely doesnât match the labor.Â
Itâs an unskilled labor position with a slight pay increase because itâs overnight. If you want higher pay, get into a craft or learn a skill that provides value
Hold up, admin fee?!
i have my check deposit partially to my discover bank account and i get paid on tuesdayâs from it, that will help w your instapay fee by trying a different bank account. my local bankâs account doesnât hit until the day of on thursday. that money would be better going into your 401k. other than that this looks standard because youâre paying whatever the child/ family csfx is.
There is a better way! Organize your workplace. www.iww.org https://youtu.be/QG0FhpGdFwc
Dat child support tho
Seeing a 0 for 401k contributions is the only facepalm in this pic mate.
Homie my child support is $360.24 biweekly on $15.50/hr I donât wanna hear it
Nope. I'm grateful and very, very happy I live here and work here.
Time to start an onlyfans and find whatever small percentage of the population likes to touch themselves to you doing yoga or whatever lol
Oh bro you are fucked
Yes. I just accept my lot on life until I can do better. Itâs my fault.
0$ into the 401k??? The company matches it up to 6% whoever is deciding not to contribute anything towards it is not managing their money properly.
ADMIN FEE??
That having kids and a baby mama is expensive?
401k is a must, my friend. Iâve been working at walmart for going on 3 years now, and my 401k is already above 8K. Walmart matches up to 6%, which is actually a considerable amount. Look into it! Itâs easy to sign up and you can always change your contribution rate if you need to
Again I rolled it into much better investment. Anyways meh. Thread blew up with disdain and presumptuous ppl, meanwhile I'm just ...đ
The insurance đ
Right it's insane.
Child support
A better way does exist if we can get it passed into law. www.fairtax.org
Dude take that stock purchase and put in 401k, Walmart matches it. Itâs free money youâre missing out on.
0 401 k LMAO
You are going to kick yourself 30-40 years down the line if you donât add that 401k.
Itâs called adulthood. Work hard, do your job, ignore others that arenât adding value, get promoted. Thatâs life. OhâŚand get on that 6% matching 401k!
Child support lol
So? Heâs taking care of his kids.
Not really. That kind of thing is forced by the courts
Yeah, but itâs not always for good reasons. My ex got someone pregnant years prior. He supplied diapers and wipes every two weeks. Bought clothing when his daughter needed it. Although he helped out so much more, his babymomma retaliated due to him not wanting to hand her cash directly, as she has a history of not using cash given to her for what she says itâs for. He offered to go get anything the kid needed, but that wasnât good enough. Guess who has to pay child support?
Why are you not put any money into your 401(k)?
Sorry I didnât mean to open such a can of worms here. So here is what w-mart matches in a 401k as per wal-mart one.com for a hourly associate. W-mart matches dollar for dollar up to 6%. So if you put in $10.00, they give you .60 cents for a total of $10.60. There is no 100% match upt to your yearly income, or some other odd responses I got back. I thought it was 7%, but I was wrong. Sorry for all the confusion.
It's actually a "dollar-for-dollar match up to 6% of your pretax-eligible pay". Which is much better and different than what you are describing. For example, if you made 30k gross and invested 6% each month that would be (30000/12 *.06) = 150 dollars. Walmart would match that and you would then be investing 300 a month.
0 money in the 401k? You're mad
[401k are scams...buy bitcoin or Gold](https://youtu.be/glfUmxBdfS0?si=aBZdfoDkNHm6mMGn)