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Started By
Message
re: Going to withdraw my 401k
Posted on 4/9/13 at 9:16 am to uway
Posted on 4/9/13 at 9:16 am to uway
quote:
I'm willing to listen to reason if anyone feels like sharing it, though.
With all due respect, it sounds like you have no interest in "reason" whatsoever.
Leave the money in the 401k or roll it over into an IRA or Roth IRA. Those are your three options. Any and everything else is ignorant.
1
Posted on 4/9/13 at 9:17 am to Vols&Shaft83
quote:
Message Posted by Vols&Shaft83 Where is the paranoia coming from? Alex Jones?
No.
The government printing money.
Interest rates held so low.
Real unemployment rates.
Government debt.
Class warfare.
The IMF.
Posted on 4/9/13 at 9:17 am to uway
With all due respect, you're being an idiot right now. Stop watching the news.
Posted on 4/9/13 at 9:20 am to uway
quote:
uway
No offense, but you are batshit fricking nuts.
Posted on 4/9/13 at 9:24 am to slackster
quote:
With all due respect, it sounds like you have no interest in "reason" whatsoever.
I am which is why I am asking questions and listening to answers.
quote:
Any and everything else is ignorant.
Everybody seems to be in agreement.
Posted on 4/9/13 at 9:26 am to Broke
I think we're being trolled, I hope so anyway.
Posted on 4/9/13 at 9:27 am to uway
quote:
Going to withdraw my 401k
Without reading any of this thread, just the title, my response would be DO NOT DO IT!
Posted on 4/9/13 at 9:27 am to uway
quote:
Everybody seems to be in agreement.
Yes we are. And I know the type of investor you are. You're going to pull it out anyway. And that's fine. It's your money. But while my IRA grows from $50,000 to $200,000 your cash will be safe buried in the back yard.
How many times has this country been fricked up over the last 200 years? And it's always keep chugging along.
Posted on 4/9/13 at 9:28 am to uway
October 19, 1987
Following the stock market crash, a group of 33 eminent economists from various nations met in Washington, D.C. in December 1987, and collectively predicted that “the next few years could be the most troubled since the 1930s”.
Following the stock market crash, a group of 33 eminent economists from various nations met in Washington, D.C. in December 1987, and collectively predicted that “the next few years could be the most troubled since the 1930s”.
Posted on 4/9/13 at 9:28 am to Broke
quote:
No offense, but you are batshit fricking nuts.
So "one in the hand worth two in the bush" doesn't apply AT ALL? Y'all are that confident that we are not headed for collapse?
Posted on 4/9/13 at 9:32 am to uway
quote:
So "one in the hand worth two in the bush" doesn't apply AT ALL?
It doesn't help that you are wanting to take massive penalties to invest in a depreciable asset on the assumption that things may, at some point in the future, "get bad".
At the end of the day it's your money, and if it helps you sleep at night, do it. It just isn't a position you will find support for on the Money Board.
Posted on 4/9/13 at 9:37 am to uway
quote:
So "one in the hand worth two in the bush" doesn't apply AT ALL? Y'all are that confident that we are not headed for collapse?
If we are gonna go let's go all in.
Things you need to do:
Sell your house and put the proceeds in ammo, gold, other commodity.
Build bunker
Buy guns
Sell car- won't need that depreciating asset
Quit job- Money is worthless anyway. Why work to acquire it. Start farming the land and raising cattle.
Want me to keep going?
Posted on 4/9/13 at 9:38 am to uway
Consider refinancing the car to reduce expenses. Historically people dont consider this an option, but it can actually make sense today.
Or sell it.
Or sell it.
Posted on 4/9/13 at 9:42 am to Waffle House
quote:
It doesn't help that you are wanting to take massive penalties to invest in a depreciable asset
Eh. Money is a just a fungible means to an end, and paying off debt is a good thing for many reasons both quantifiable and not.
quote:
It just isn't a position you will find support for on the Money Board.
Certainly didn't expect to find support. A bit surprised at the confidence in the markets, though I would expect some level of hubris from people who make their living off of watching the market and giving investment advice.
Posted on 4/9/13 at 9:46 am to uway
quote:
and paying off debt is a good thing for many reasons both quantifiable and not.
As previously discussed, sell car, buy cheaper car. No debt and I bet you wouldn't take as big of a hit financially speaking as you would if you left your 401k alone.
Posted on 4/9/13 at 9:47 am to uway
quote:
though I would expect some level of hubris from people who make their living off of watching the market and giving investment advice.
You would assume that if we all thought we were headed for collapse, the majority of us would go find a different career.
Posted on 4/9/13 at 9:47 am to uway
quote:
A bit surprised at the confidence in the markets
I think it's less about confidence in the market and more about confidence in the "system", which it doesn't seem that you have.
You don't have to be in the stock market. Lots of people have raised alternatives to stocks that don't involve handing over a chunk to the gov.
Posted on 4/9/13 at 9:56 am to uway
You're surprised that most people don't think it's wise to take a guranteed 35% loss based on pure speculation. You're either an idiot, crazy, or trolling. Either way, frick this thread, I'm out.
Posted on 4/9/13 at 10:10 am to uway
Where are you going to put the money once you withdraw it?
Posted on 4/9/13 at 10:12 am to Vols&Shaft83
quote:
Posted by Vols&Shaft83 You're surprised that most people don't think it's wise to take a guranteed 35% loss based on pure speculation. You're either an idiot, crazy, or trolling. Either way, frick this thread, I'm out.
You should listen to and learn from "The Education Song" by the Gourds.
And again, this isn't the entirety or even the biggest piece of my 401k.
Broke, changing careers is not always that easy. Do appreciate the level-headed responses. I will probably not withdraw from 401k.
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