The annual 401k match happened at the top of the market. It is absurd the match doesn’t happen every paycheck. We would be averaging into the market right now (getting shares at a low price) if not for company greed. Workers getting the shaft again!
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Too funny to see people complain about this. It’s 6% of your current salary, 6 measly %, that isn’t in the market or being perfectly timed. Be real with yourself, no one trolling around here is making $250k+ so now we’re yapping about an end of year match totaling max, $12k. $12k that wasn’t lost, you still get it, it was simply out of the market for the past year. So what? Big whoop. What % of your portfolio constitutes that match of $12k? A pittance. $12k with a great 6% growth over a year now you’re talking under $800 valuation increase? $800 vs your entire portfolio. Cry me a river. Of course those will retort with BUT WHAT ABOUT THE COMPOUNDING INTEREST, THINK OF THE CHILDREN!!!!!!! Yea I’ll go ahead and front load 12k into my taxable account and call it square. There are better things out there to upset about and change jobs over.
Yeah, the match is great but it's not much $ compared to contributions, which are biweekly. So you're getting your DCA'ing, just not on every penny invested.
I agree thst matching at the end of the year not giving up the compounded interest is shity. I have been with the company almost 2 years and never seen such corporate callousness and corruption. Seems almost every week at every turn. I had high hopes it would be better than my previous employer but clearly want from the frying pan I to the fire. I plan on leaving. WF for a future of career growth and good financial personal growth is not a good place to be. Saul and Charlie should be ashamed with themselves.
But that's just the match. Your contributions are still going in every paycheck. Yes, it could be better, but getting matched up to 6% is better than a lot of companies regardless of timing.
Wrong
When was it ever matches every paycheck? I've been here about 15 years and it was always quarterly.
Conversely, if the market were down along the way while contributing and they matched then, and then it grew exponentially int he coming months you would be elated. Yin and the yang. But I agree, it is BS that it is a 1 shot wonder when they invest it, vs. ongoing as they did before allowing for dollar cost averaging.
Post ID: @wxv+1gPbYfmt
You must be a new employee if you have the foolish notion that anything comes free at WFC. Silly boy.
Front load all your contributions and they will have more time to compound. You can’t do that if they match every paycheck - think about it
I'm so old I remember when we did get the matching every paycheck. Oh wait... I'm not that old and it was last year that they did the match per pay period.
People complaining about free money.....
Don't worry, it will be lower in December than it is now.
Too bad the match wasn't in Berkshire Hathaway stock instead...
That's exactly why I pulled my 6% out (just enough to get match) out starting Jan 1 of this year. I don't plan to be here end of the year either so why wait around. This should be criminal what they do.... yet our own Investment people tell us we need to contribute dollar averaging throughout the year, yet Wells Fraudco ignores this, cus they couldn't f'ing care about us.