Thread regarding AT&T layoffs

Open a brokerage account in your 401k ASAP and dump AT&T stock as soon as you get it!!!

Why do you think you can't sell your AT&T shares? I sell mine every month. I move the money to other funds within the plan. You don't have to keep them.

The restriction on Selling T stock for Leg-T employees went away years ago. If the stock price is steady at least you make 7%/year on the dividend

I hold VZ stock in my Roth account.

At&t matches 401k contributions in the form of company stock & you can transfer that to something else that the day it appears in your fidelity account.

Big oof, if OP or anyone else didn't understand this. I dump that garbage as soon as my cost basis on those shares goes above 100%. Friggin' look up 'cost basis' if that's new to you too, it's something else you need to understand.

I'm been retired for over 5 years now but I thought at one time you could not sell the AT&T shares in the company contribution portion of your 401k until a certain age. That might not be true now or in the past for all employees but I'm fairly certain it was the case at one time for me as a management employee.

Best thing I ever did was move my t shares to fidelity brokerage every few months

I sell mine off regularly ... but thanks about worrying about me!

@pxi if you bottomed out in 2000 and didn't recover until 2016 - you must have made some terrible, TERRIBLE choices. Like literally, actively, doing your best to make the worst possible choices for sixteen years.

16. S. what 2000 recession?

The only T stock in my 401(k) was free...

I keep only .5-1% before I sell it off and diversify it.

"Now go open up your 401k account and multiply your AT&T share balance (That you cannot sell until you are 55 years or older)"

In MY 401, I'm free to sell it immediately. I'm an active employee. Do you have a different plan than the rest? Do you actually work at T?

Why can’t you sell your shares until 55? I don’t invest anything in att because I know how it is ran. You can do whatever you want in fidelity you are just limited to the total amount you can put in a brokerage account. Can’t be more than a certain percentage of the total.

Employee's have full control on the investment in the 401. Company match is paid in company stock, however that can be sold and re-invested in other investments. I know lots of people who sell it every payday. Also a portion of your 401 can be extracted to other investment companies. Company success or lack thereof has no bearing on your 401 account.

It is not just Ratty and friggin T. We suffered through the combination of a Federal Reserve that debased the dollar by 98% in their lifetime, a Fed Gooberment with unlimited deficient spending, and Wall Street that wants to get their hands in everyone's pocket.

For me, my 401K balance reached a peak in 2000 after being maxed out contribution my entire career. After the 2000 recession, my 401 did not reach the same balance until until 2016. And that included the 50 hair cut in 2009. Sixteen years of maxed out contributions could not bring it back to the same level as 2000.

But then suddenly, it came back to the 2000 level in 2016.

Gee, what happened in 2016 that improved things?

Criminal to lock employees into T. But the 401K was transformed into something to make Wall Street rich, not the account holders. Fortunately, I'm an old f@rt and sell all the T every month.

Other criminal activity was how Ratty dumped the Mobility T tracking stock into the pension fund. No wonder it is grossly underfunded.

Hmm - Classic T [recently ex] management employee here. While T's match always came into their own stock fund, I have also always been able to sell it immediately. I believe there are many iterations of the 401k. Mine had no limitation on this. The only thing I'm upset with is that they limited us to 50% Brokeragelink. If they hadn't, I expect my final balance (one more paycheck to go) would be bumped up a bit. Thankfully when they originally rolled out Brokeragelink, we were able to move as much as we wanted into it - I moved my entire balance. It's far outshone the "classic" 401k.