Stocks

[clyde]

Originally Posted by Coach Pants

You are

I are....a cutting board?

[RockHardTen1985]

Gales serious question....The HR guy at my job is a tool, I have a bigger education then him. We have a new plan, well new to us called 403-b administered byu Franklin Templeton Financial Advisors. The HR guy is clueless, my question is... Is this $ locked in forever? What If I put a huge part of my pay into it? Can I take loans off of it, or take it out without penelty?

[gales0678]

Originally Posted by RockHardTen1985

Gales serious question....The HR guy at my job is a tool, I have a bigger education then him. We have a new plan, well new to us called 403-b administered byu Franklin Templeton Financial Advisors. The HR guy is clueless, my question is... Is this $ locked in forever? What If I put a huge part of my pay into it? Can I take loans off of it, or take it out without penelty?

the $ is not locked away forever , but there are costs if you try to borrow against it and early withdrawl penalties

put in what you can afford and just make beleive it's not there , joe they years go by fast and you will need that $ in retirement

[dalakhani]

Originally Posted by RockHardTen1985

Gales serious question....The HR guy at my job is a tool, I have a bigger education then him. We have a new plan, well new to us called 403-b administered byu Franklin Templeton Financial Advisors. The HR guy is clueless, my question is... Is this $ locked in forever? What If I put a huge part of my pay into it? Can I take loans off of it, or take it out without penelty?

You can borrow without penalty to purchase a house. If you withdraw for any reason besides a proven hardship, you will be taxed and penalized.

You can lock in your money and make equivalent to savings interest but the admin fees will eat that up so you benefit in the sense that you save pre tax but inflation will chip at that some.

403b to the max you can take is a no brainer. Pre tax savings.