Yep, buy a Toyota/Honda and drive it for 200,000+ miles and then trade it in for another.

Also, when you stop making payments on it, pay that money into an account so your next car isn't financed.

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If you have no other retirement, I would definitely not concentrate 85% of my wealth in a single asset.

You may find these links helpful:

• "How to handle $"
• Investing

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This happened to me too. I went from fully vested to only vested in my contributions overnight. Reached out to HR and they contacted fidelity to get it changed back. Was updated the next business day.

This Is just what I’ve seen some of my friends & their family do, and this was prior to covid when cars had been in abundance. They also wrote their trucks off because they use it for work, but maybe you can extrapolate a little from it. They also had cash to make initial purchase.

They would buy the newest diesel by gmc drive it from 0 miles - ~15-20k miles. Trade it in and repeat. It would result in the car being used for about 2 years. By doing this they maintained >2/3rds equity in the vehicle, and would get great APR rates through the dealer.

By using the car for work, they never anticipated paying it off or living car payment free. So they looked to just optimize their monthly car payments.

Last add I saw from gmc (on Reddit) was 3.2% apr, but it required you to sell your current car which was already bought from a gmc dealership. So theirs weird deals out there, just read the fine print.

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Employers are obligated to provide you with a W2. They can it by 3 different ways:

1. In person
2. via mail
3. electronically

Employers aren't specifically required to mail them to employees.

I revoke my consent last year. Can they still force me to use the electronic only option?

True! Very important.

I agree with. People usually do the opposite. A new car us great for me because I treat them gently, maintain them well. And certain vehicles don't lose value much.

If you have given them consent to receive electronic W-2, yes. If not, they have to give you a paper copy.

They can just provide electronic if they want. Most will give the employee the option of mail or electronic.

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It's been decades since we've purchased 'brand new'. We've been buying 2-3yo, off lease, low mileage vehicles. They tend to be nice, loaded with all the bells and whistles and well taken care of because they were 'leased'. We haven't looked lately in these crazy last few years though.

If you can pay cash that's/was the best way to go. If someone has to finance at least in the past, sometimes you can get a really good deal on a new with zero financing vs a higher rate for a used car, that's what my SIL did still before pandemic. Somehow I think those days may be gone now?

Make sure to compare the cost of auto insurance too.

If you’re thinking about trading up every few years why not just lease?

In the current market, there's little difference between new and used if you'll drive it into the ground (assuming you're looking at new or gently used). You need to go 5-8 years use to get a decent 'deal' these days.

That assumes you can afford the upfront outlay needed for a new car

If you’re looking to get another car in a few years (I don’t get why ppl do this) then a new car isn’t for you. If you plan to keep your car for ten plus years buying new is a great investment

Yeah it is pretty confusing system since you only know fidelity and probably nothing about your plan administrators. Hope you get it figured out!

Thank you! Will do! I would have thought the Fidelity reps would have advised to contact my employer directly in the 5 times I spoke with them. Instead they reported that they would be the ones to take care of it. My fault for being ignorant…

Fidelity is the one that holds your money and holds the records of your balance. Changes are usually decided by your employer and made by your plan administrators. Talk with owner or HR, the one that usually deals with the 401k plan in your company to confirm when your statement will reflect full vesting.

This is the way.

My company is small and only has one HR person, but any update to my 401k needs to be confirmed/implemented by her.

This is something your employer most likely needs to talk to them about. I'm guessing there's a wrong date somewhere in their payroll system and it's getting reuploaded each time contributions are made to Fidelity.

Good point on the PRN status change and how that might affect vesting. I assumed since I still received employer contributions despite the status change that it would still qualify for being vested on the same timeframe as someone who is full-time, but I’ll look into this. Thanks again!