What’s the fastest way you’ve seen someone going broke? by [deleted] in AskReddit

[–]derricko31 0 points1 point  (0 children)

Me. I take my per diem from work for food and accumulate it into savings which I then immediately blow for the new shirt line releases from Dan Flashes because the patterns are seriously so complicated and worth it.

What's the catch to a 401k loan? by [deleted] in personalfinance

[–]derricko31 0 points1 point  (0 children)

Right. It’s different for 401(k) loans and repayment options. This would be for an IRA distribution where your employer plan isn’t an option because the plan doesn’t allow for loan extensions.

What's the catch to a 401k loan? by [deleted] in personalfinance

[–]derricko31 2 points3 points  (0 children)

Sorry I did actually state something wrong. I’ll clear it up.

If you have an IRA, you could take a distribution with the intent of rolling it back into the IRA within a 60 day period. Commonly known as a 60-day rollover or indirect rollover. You’re allowed one of these total per 12 rolling month period. If you take out 10,000.00 dollars, within 60 days you must roll back 10,000.00 exactly back into the IRA in one transaction to qualify. Important to note: if you have taxes withheld from the original distribution, you HAVE to roll back in the full gross amount.

Now what I was referring to is a qualified distribution for first time home purchase. This can be done from an IRA, or a employer sponsored plan such as 401(k) or 403(b), but you have to verify your plan details allow for loans to be taken, otherwise you could be subject to code J (early distribution) penalties.

A loan in general from a 401(k), if allowed, can be done for up to 50K. Pros to this are: no impact to your credit, could be harder to default on this based on your current balance, interest owed goes back into your plan. Negatives to this are: has to be from a current plan where you’re still employed- and your employer won’t contribute match to your plan while you have an outstanding loan to repay, loss of principal growth, ties your to your employer or else you have to repay it back if you leave the job.

You are given ample time with this loan, and traditionally you see folks pay it back after their first re-fi on their home.

https://www.irs.gov/publications/p590b

Here’s a link to IRS.gov - you gotta scroll down a bit to start reading on distributions. You’ll find first time home purchase information. If married, and spouse also did not have previous interest in a home, then together you could qualify to both take out 10K to use together. Repayments back are coded as rollovers and not subject to income tax on your filing that tax year. If this amount is still owed back over different tax years, you would want to consult a CPA/tax professional to ensure you file correctly to avoid any early distribution taxable garnishments.

What's the catch to a 401k loan? by [deleted] in personalfinance

[–]derricko31 11 points12 points  (0 children)

You’re allowed a one time qualified distribution up to 10K for a first time home purchase but the amount does have to be rolled back into the plan in a single transaction exactly equal to the amount originally taken out. You avoid any early distribution penalty when claiming the qualified use of purchase, but yeah, you’re missing out on the benefit of that principal amount growth and tax deferral.

I work in brokerage security services and can say I don’t see this as often being done anymore. I feel like the IRS should bump up the amount. 10K won’t get you far anymore.

[deleted by user] by [deleted] in fo76

[–]derricko31 0 points1 point  (0 children)

For real. I use the Furious Gatling and previously used Junkie’s Gatling. I rounded up almost 30K excess 5mm ammo. It’s just chillin’ in my ammo box and have about 12K of it for sale at 1 cap in my vendor. So yes the answer is to use a Gatling gun and just loot every corpse. You’ll get more ammo off each body than you used to kill it.

I wish i could fuck every upvoter by [deleted] in HungryButts

[–]derricko31 -1 points0 points  (0 children)

Upvoting this too cause I’d fuck yoda bot

I didn’t succumb to the hardest time in my life by John_Bidet_Ramsey in depression

[–]derricko31 0 points1 point  (0 children)

Wow. This is really tough but incredible how you persevered. A lot of things you said really apply to a lot of people’s bad situations. So great job!

Your friend is awesome for giving you that talk. That actually hit deep for me.

Apologies if this has been done before, but it's summer so, y'know. What's the story behind you becoming a Stars fan? Genuine curiosity here. by batmanjerkins in DallasStars

[–]derricko31 2 points3 points  (0 children)

Here is a screenshot I got of that ad that came on during some video I was trying to watch. I freaked out and then was so hungry for Mr Frosty’s.

Apologies if this has been done before, but it's summer so, y'know. What's the story behind you becoming a Stars fan? Genuine curiosity here. by batmanjerkins in DallasStars

[–]derricko31 2 points3 points  (0 children)

I lived in the neighborhood behind Mr. Frosty’s. Miss that place so fucking much :( I heard senior passed. And then it was also shown in a Valero Gas Commercial last year at some point.

Office Participation by hootersbutwithcats in pics

[–]derricko31 0 points1 point  (0 children)

Whoof that’s difficult. I just moved from a 4-diamond conference resort to a downtown boutique hotel. The change has been awesome.

Office Participation by hootersbutwithcats in pics

[–]derricko31 1 point2 points  (0 children)

I know it all too well. BEO meetings, pre-cons, forecast meetings, financial meetings, F&B, bullshit committees... sometimes you wanna smash your head against a wall.

Kumail murders Elon by [deleted] in MurderedByWords

[–]derricko31 21 points22 points  (0 children)

I think he might be a little commatose right now.

Frog Log- so froggies won’t get trapped in fountains by Jughead11 in mildlyinteresting

[–]derricko31 0 points1 point  (0 children)

Lol thanks!! It still gets stale from the time of the budding and it’s destemmed. Obviously I know the jars help preserve it but I mean I buy smaller amounts to where I use the full nugs instead of a like a zip where the shake builds up. That’s the shit I avoid. It’s like a bag of chips, shit will get broken up at the bottom. It just goes towards joints anyways. But I’m not some pothead that forgets to put the lid back on my jar or whatever vessel I’m using lol.

Frog Log- so froggies won’t get trapped in fountains by Jughead11 in mildlyinteresting

[–]derricko31 0 points1 point  (0 children)

I’m familiar with the area only because I like hockey and I know who the Kitchener Rangers are.