401k's

Chandler was setting up Rachel with people he worked with, while talking to her he said "Guys are signing their 401k's to me".

What are 401k.s?

Thanks.

A 401 (k) is a retirement account. Companies in the states will deduct a portion of money from your paycheck and place it into a retirement account. This is done before taxes are taken out. Then, the money is invested for you. Sometimes, you can choose the investment (which stock, which mutual fund, etc.) and sometimes you have no choice. Also, if the money is withdrawn after a certain age, no taxes are incurred.

Vishal

Cybermoose wrote in message news:8ekrt2$lab$[email]...

to

you,

Good, quick write-up, except that taxes are taken out when you withdraw the money (after 591/2 yrs old). You pay income taxes on your rate of income THEN (when you're withdrawing it, presumably after you have retired), not at the rate at when you were contributing to the fund.

--Randy

Vishal Ailawadhi wrote:

Yup, you're right. Minor flub on my part.

Vishal

Randy Hinds wrote in message news:[email]...

the

THEN

the

If a 100 monkeys each could get their own show (alt.tv.friends), perhaps one day (Mon, 1 May 2000 22:08:40 +0100) a chimp ("Cybermoose" ) might say:

It's hard to believe people this stupid actually exist.

In the defense of others, a 401(k) is a US concept.

Give others the benefit of the doubt, first. There is usually a very fine line between being stupid and being uninformed.

Vishal

I'm from Australia and we have a similar schemes to the 401k's and I had no idea what it was when I heard chandler mention it..

Adam.

"Vishal Ailawadhi" wrote in message news:8el7on$cup$[email]...

"Omarichu" wrote in message news:[email]...

to

Boy it's so nice to have helpful people like you around. Can't you do anything but insult everyone who asks a simple question? He's from the UK, which probably doesn't have 401K's, or didn't you bother to check to see where he was from before replying so arrogantly...

Fred wrote in message ...

Thankyou Fred, you are right. What you refer to as a 401(k) is known in the UK as a private pension (plan), to distinguish it from a state pension. The state pension is given to all OAPs upon their retirement at the age of 60 (female) or 65 (male) assuming said OAPs are not already rich, and is funded by the welfare state (government). The stae pension is now quite low (not practical to live on in this country due to high living costs), so private pensions are pretty much standard.

Regards,

401 k's don't exist in the UK. Quite possibly the person who asked this question is a Brit. The Brits have something similar to a 401k called a 'personal pension plan'. I should know -- hubby is a Brit and we've had this discussion many times before.

Omarichu was stupid in thinking that this question may have come from an American, not a brit. Just b/c Friends is an American show, it doesn't mean that it's just watched in America.

~C <-- who is an American, but knows better (sometimes)

"Omarichu" wrote in message news:[email]...

to

Thanks for the responses and defence guys :)

Looks like the nicest ng I've ever come across.

~Carlina wrote in message ...

mean

Then please stay out of the physique critique thread!

~Act

I heard Activia's cries on the wind...

And don't bother reading any posts by Omarichu. I've yet to see a single one that wasn't a thinly disguised troll.

Oh, it helps to ignore me, too. ;-)

Omarichu wrote:

Likewise.

to

Alternatively, maybe theres other islands on the globe that you probably forgot about and couldn't care less (yes i said couldn't care less, not COULD care less) about that use a different term whos people have no reason to know your terms. Idiot.

     A 401k is a tax advantaged retirement plan.  ("401k" comes from section
401K of the US Internal Revenue Code.)  A person may contribute a certain
percentage of their salary to their 401k account.  It comes directly out of
their paycheck, before taxes are taken off the gross amount.  Often a
person's employer will match some or all of the contribution.  The money
grows tax free and is not taxed until after retirement when the person
begins taking withdrawals from his or her account.
    Scott Letteney
Cybermoose  wrote in message
news:8ekrt2$lab$[email]...

to

you,

In article , "Scott Letteney" wrote:

So aren't there any robots working at the Fine Foods division then?

Tennant