Agreed. The Boomer pensions got hosed by the somewhat brutal nature of Capitalism. And angry old people will always be angry old people regardless of generational makeup.
#backinmyday
#getoffmylawn
#uphillthroughsnowbothways

Show us on the doll where the millennial hurt you? “All that hate’s gonna but you up, kid”

Nice one. I don’t think drum realizes that the millennials he encounters here are the exact opposite of his characterization.

Why are you always so divisive? Serious question. Was there anything in my post that was divisive in nature, or was it more of a reasonable explanation on why "facts" aren't necessarily facts. What, specifically, offended you and prompted you to lash out against a whole group of people?

Angry old people aren't born that way...they evolved due to life experiences. ALL people are born ignorant and have to evolve.....that takes time....some take more time than others.

BTW...if I thought you were trying to funny, I could see the humor. But it appears that you support divisional politics and it was not an attempt at humor.

Hey bright guy, I was agreeing with your entire post. #boomersgonnaboom

what most don’t realize with a 401k loan is that if you lose your job, it must be paid in full within 60 days, or else you will pay early withdrawal penalties.

Your perspective is tiresome at best.

It’s a risk yes, but a very small one for pilots once you get past the bottom of the seniority list.

401k loans are a great tool that can simultaneously help you pay for important purchases and generate better returns on the “cash” portion of your 401k. I haven’t run the numbers but I would guess that you would come out ahead just by taking a $50k loan, putting it in a savings account and using that to make the payments. Your “profit” would be the last few payments you’d have to make out of pocket. Small potatoes probably, but an illustration of how they help your portfolio.

Most 401k loans have a maintenance fee of some sort, although it’s small. And I doubt that a $50k cash position is appropriate for most pilots who just rose out of the bottom of the senior list. I suspect what is more likely (as happened in my case when used for an “important purchase”) is that the lost earnings on the withdrawn funds greatly exceed interest paid to yourself - which is really just additional money one saved. If those funds would have earned 11% by remaining in the 401k, that is an expensive loan indeed, greatly exceeding a HELOC or even some personal loans.

Who has any of their 401k in cash though? Seems like the ones who would need or want to use a 401k are us younger ones who shouldn’t have any of our 401k in cash. I’m not disagreeing, I’m just genuinely curious. We recently bought a house and, without boring you with too many details, had to get creative on the down payment since we couldn’t put in a contingent offer. The 401k loan never even factored into our decision mainly because of not wanting to have any of our money out of the market.