silverbackgreybeard
Region: US
Wednesday 11 June 2025 23:10:17 GMT
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Red Lip Gardener :
We did. we sleeping good now. No debt
2025-06-12 13:44:46
3669
Josh :
401k loan!!! Avoid the penalties, pay yourself back playboy!
2025-06-13 13:30:12
1456
David L Wise III :
Do a 401k loan instead so your money continues to grow…..then pay the loan off asap
2025-06-11 23:48:34
3583
Philip Heim :
At 55 years old I took out $85k which meant I actually got about $72k deposited, which I was fine with. What hurt was tax time & the 1099 form. It added $85k to my income & taxes were brutal
2025-06-11 23:44:24
702
RetiredMC :
Take a loan from your 401k. Pay your self back.
2025-06-12 12:20:22
680
JB :
You’re losing on penalties…taxes…and the time value of money. Unless you have an extreme emergency…this is NEVER a good idea. I’ve been a financial advisor for 24 years and have talked a lot of people out of doing this.
2025-06-13 00:54:37
167
Kat Savage :
Bad idea, don’t forget the taxes!!!
2025-06-12 18:57:04
332
Random_ish :
I retired at 50, took enough to payoff 3 cars credit cards and loans, Apprx $92k. The penalty for early withdrawal because of my age was 20%, but I only have my house payment now. This freed up $2250 a mo., so now I can breathe easier.
2025-06-12 22:45:02
628
david.kesterke :
You take a loan, no penalty
2025-06-12 17:20:15
250
JsCannon :
I did and it was best decision ever! Now I am rebuilding my 401k at 52 years old.
2025-06-12 23:08:16
145
ericjohnson7061 :
Go sit with a financial planner and disclose your situation........
2025-06-12 00:31:08
2196
Mrs Wells :
Tomorrow ain’t promised. It’s my money and I’m using it. If I’m in need, Im definitely get a 401k loan and let them take it out my paycheck over time. I took 10k and it took 24 months to pay it back. I have no regrets.
2025-06-14 03:48:14
184
Chuck :
Dave Ramsey be freaking out
2025-06-12 15:51:24
437
PandaPanda :
go ahead and so it. my children's father died at 50 in April. he didn't even get to retire n was eligible this Jan. his 401k was built up by him n he didn't get to spend a dime. love while u can, bc we are not promised tomorrow. 😉
2025-08-04 13:40:56
13
Westtt8O :
Older people are going to tell you not to do it, its like it hurts them somehow. People that are awake will say do it.
2025-06-12 23:10:07
7
Josh :
You can take a 401k loan without penalties and pay yourself back with interest. I did it. I’m paying 8% on the loan but that goes back in to my account.
2025-06-30 14:07:57
1
Gary Emerson186 :
why pay off the house if your rate is around 3% and you get 7% plus on your money
2025-06-11 23:19:30
58
Empress TeeBee :
This is the info I need because I’m sick of being debt with hardy nothing to save
2025-06-13 21:19:06
38
Chris :
Do a 401k loan no penalties and you pay yourself back
2025-08-05 15:51:00
10
dogbeanz :
Nahhhhh taxed plus a 10% penalty. Horrible idea. If you are desperate take a 401k loan.
2025-07-05 02:47:00
5
rampagingred :
You can barrow up to 50k tax free as long as you pay it back within 5 years
2025-06-11 23:20:04
68
EequalsEmCeeSquared :
Nooooooooo!!!! You’d be better off lowering or stop paying into you 401K for period of time. The penalties will be higher than the interest and dividends you are drawing.
2025-06-12 01:49:40
25
KOOL_0828 :
THAT'S WAT I DID BRO, AND BOUGHT 3 HOUSES, I lived in 1, I fix 1 up and rented it, and the 3rd 1 i fixed up and flipped it and this was in 2006 I now own over 60 properties.
2025-06-13 01:00:35
279
💜🐟The Mrs. that Fishes🐟💜 :
Yes, years ago. Its a 30% penalty
2025-06-11 23:24:27
162
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