@calebhammercomposer: 23-Year-Old Drained Her 401(k) TWICE #401k #moneytok #investing

Caleb Hammer
Caleb Hammer
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Region: US
Thursday 19 September 2024 19:09:54 GMT
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pon_ni_ni.roll
Pon_ni_ni :
Don't EVER drain your 401k....got it 👌
2024-09-19 20:09:40
4943
mcbeestudio_757
McBee Studio :
My 401k only has $7k in it and I’ve been building it for 2 years :(
2024-09-20 03:04:21
332
i_am_i_said
SimpleMan :
I drained a $25k 401k to start a business,since then the business has made me 6 figures per year for almost 30 years. 🤷‍♂️
2024-09-19 22:21:32
997
imhaannahh
𝐻𝒶𝓃𝓃𝒶𝒽 :
British gal here 👋🏻 please can someone explain what a 401k is please 🥰🤣
2024-09-19 20:11:37
127
mick_sheesh
Mick_Sheesh! :
why don't they teach taxes and personal finance in schools?
2024-11-15 06:31:15
255
ultrarareduck
ultrarareduck :
bro I'm almost 40 and I have no clue what a 401k even is
2024-09-20 16:09:56
125
lans_carcioppolo
Lans_Carcioppolo :
Usually they hold 20% of the total withdrawal to cover the taxes and pentalities
2024-09-19 21:29:15
302
4kchip
4kchip :
What would be a good credit card to start with while im in college
2024-09-19 19:59:46
26
yesimartineznava
Yesenia Martinez-Nava :
I have a 401k with Walmart when I was working for them, but what do I do now, I forgot my password😭😂
2024-09-19 21:07:19
50
generalmarven
General Marven :
idk I took out 16k and purchased a home. 🤷
2024-09-20 01:50:27
57
mdblake1973
Michelle Blake :
There is no franchise tax on a 401k withdrawal in Texas. Sounds more like she formed a business or something and didn’t file a franchise return so they estimated the tax
2024-09-20 11:27:34
66
thatslow21cbr500r
ThatSlowCBR500R :
I pay the tax on my 401k before it goes in. So that it doesn't get taxes later.
2024-09-19 20:43:45
150
xxp1musicxx
xXp1Xx :
I had 401k and bought my first place by 21 still feel behind sold it n bout a house n land by 29 in the worst market ever 😅😭
2024-09-19 20:09:34
48
musicalhusk
Musical Jeff the land shark :
0.0 I don’t have any
2024-09-19 19:18:20
43
lit_tee2020
Lit Tee's :
can you give advice? I am self employed but not sure how to invest my money for retirement. there's just so many options and seems complicated. I just leave it in my bank account at this point.
2024-09-19 20:53:10
13
myboysrhome2025
MaKaYLa N.G :
401k is retirement fund right? I'm from Australia.
2024-10-29 11:54:07
27
bumtastick
Bumtastick :
I withdrew my 401k when I was younger because I didn’t know you can transfer it to a new one when switching employers. Most expensive mistake I learned the hard way because I didn’t read the forms. 😢
2024-11-14 17:49:09
15
thataboy
thataboy :
Never drain your 401k just roll it over to your new jobs 401k or roll it into a 401k at the bank. Get a hold of a Financial advisor at the bank.
2024-11-02 23:22:45
47
lizbingham403
lizbingham403 :
Hiw does this happen? I cashed out a small 401 k from a previous job they with held anticipated taxes on that money and sent me the rest. I got back $100 i over paid on that when i filed on turbo tax
2024-09-20 00:08:19
9
kloudmilliongaming
Kloud Million :
25 and never done any of this nore anything about this because no one ever taught me and so far haven't needed to... 😐 at least I have only a car finance debt
2024-12-12 05:44:58
4
tananyaaaa
Tanya :
Wait so do you only submit these tax forms when you withdraw from your 401k on you income tax or do you just do it yearly as you pay…😅
2024-09-20 21:25:39
3
raheem2423
Fc Barcelona (MLG) :
😐 why tf would u drain ur 401k
2024-09-19 21:05:42
3
noetheegg
Noe.メ𝟶 :
I’ll admit I’ve done it once and i completely regret it now
2024-09-23 16:08:16
2
bobh1974
Bob1974 :
I took a small loan from my 401k. The money is paid back from my check every 2 weeks.
2024-09-22 15:39:37
2
ambitiousgabe
TheAmbitiousPrince :
I max out my 401k every year along with my personal Roth IRA, but we can borrow on our 401k. We just have to pay it back every pay check over time 😅
2024-11-14 19:37:28
2
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