> be me
> work for a company for 12 years
> get laid off
> file for unemployment while I look for a new job
> have no idea how these fucking poorfag ebt things work
Can I pay my car bill, health insurance, phone bill etc with this shit?
Also, what should I do with my 401k? I was told to move it into an IRA.
What the fuck can I use this card for besides food?
it is a federal program but each state has slightly different rules. some places call it "snap". there are two kinds, there are EBT food and EBT cash, the EBT cash you can use anywhere that accepts it to buy anything, the EBT food you can only use to buy food. the EBT cash is typically used to buy toiletries. I dont think you can pay your car payment or gas with it.
No, just food, unless you qualify for cash assistance (which most people do not, and it isn't much even if you do).
Fuck.
I'm in California. I think this is just for food.
Also, don't take money out of your 401k/IRA. I made that mistake and got absolutely spanked by taxes. Plus you'll lose your EBT.
isnt that a tv show
This. Don't touch your 401k. It's safe where it's at.
dont let hillary and the niggers get your 401k youll never see it agian
1. Go to Sam's or Costco
2. Buy cases of pop/soda/coke with EBT card
3. Sell it, pay other bills.
Don't pull money out of the 401k for spending (taxes + penalties), but you can roll it into an IRA, or roll part of it into a business startup and get good franchise.
InB4 "You'll get taxed." You won't if you do it right.
Yeah, that sound lucrative. I'm sure the $75-100 a month OP might make will go really far and be worth the time and hassle.
Wouldn't the people who could afford the drinks just buy them from the store?
btw don't take money out your 401k. If you worked for that company for 12 years you probably got some good money in there. like other anons said don't touch it.
Sell them to businesses with vending machines or mom and pop restaurants not individual cans. Or, set out an ice chest at a public event for $1 a can. Easily more than $100/mo. Depends on where OP lives.
See
OP would have to sell them for less than wholesale, and that isn't going to be much. Businesses get such things a lot cheaper than retail. The public event thing is possible, but one ticket for vending without a license would wipe out any profit and then some. OP has a 401k. I get the feeling such endeavors would be a waste of time and effort.
Whatever you do, don't roll it into your new 401k when you get the next job.
What happens if you do that?
You lose a lot of freedom over your retirement you gained when you separated from the job.
So would you just start a new one at the new job? Just curious, because I'm about to be in this situation.
Exactly, you'll have a new 401k at the new job and a separate IRA or 401k from the old job. If roll it into the new 401k you are locked into its investment options and you can't use any of it for a business startup.
Good to know. Thanks, user!
Even the 'discount' you get at those 'wholesale' stores isn't actually any huge discount and OP will never be able to undercut the actual suppliers to the restaurants, vending machines, etc.
Those stores are actually just two-part pricing but called wholesale because it brings people in who think they're getting the same deal businesses get. Sure there's a discount, but barely.
You're welcome and good luck. I was in the same boat last year. It sucks while you work things out. I own a business now and never have to work for the man again.
I'm in the same boat as OP. Got let go and don't know what to do with my 401k. Thanks for the replies in here.