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Message
re: Pulling out of your 401k early.
Posted on 4/29/16 at 11:31 pm to Abikaasa_Posti_Teel
Posted on 4/29/16 at 11:31 pm to Abikaasa_Posti_Teel
Some quality counsel I this thread. Your friend is making an emotional decision that could have a negative financial impact on the rest of his life.
He needs to chill out, move the money to a MM fund inside the 401K and calm down.
If the market does crash out, he can renenter after the tank. If he pulls out now he loses the match, pays a penalty and pays a huge tax.
He needs to chill out, move the money to a MM fund inside the 401K and calm down.
If the market does crash out, he can renenter after the tank. If he pulls out now he loses the match, pays a penalty and pays a huge tax.
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