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re: Pulling out of your 401k early.
Posted on 4/29/16 at 6:03 pm to Abikaasa_Posti_Teel
Posted on 4/29/16 at 6:03 pm to Abikaasa_Posti_Teel
So at a minimum he would have to take a 35% drop in value (10% penalty +25% tax bracket) for his scenario to play out best.
I've never understood this though, if someone is truly that scared, then move it to a damn mmkt fund inside the 401k and you're still out of the market, the money does not have to exit the plan to escape market risk.
But to each his own, "Those who understand interest, earn it. Those who don't, pay it."
I've never understood this though, if someone is truly that scared, then move it to a damn mmkt fund inside the 401k and you're still out of the market, the money does not have to exit the plan to escape market risk.
But to each his own, "Those who understand interest, earn it. Those who don't, pay it."
Posted on 4/30/16 at 2:54 pm to Shepherd88
quote:
So at a minimum he would have to take a 35% drop in value (10% penalty +25% tax bracket) for his scenario to play out best.
All you really need to tell him is this. If he still wants to do it then I would watch out for this guy. I definitely would not let him watch my kids, or go hunting with him, or probably even ride in a car he's driving.
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