Open Thread
Need a Hand?
Your Next Project Starts with BrownstonerMost Recent Articles
Need a Hand?
Your Next Project Starts with Brownstoner
hope Intel lays an easter egg with their earning and forecast so I can buy more AMD
I don’t know pete, we must be reading different news sources. Seems that the wingnuts are in charge.
rob, you ARe allowed to take your money out of a 401k in an emergency. However your pitbull needing vet care does not qualify. If there is an emergency as defined by the IRS you will not have to pay the 10% penalty, altho you will have to pay straight income tax on it (remember, you didn’t pay tax in the first place).
could never collect soc sec at 59 1/2. Earliest was and is 62. And only way there would not be soc. sec. when he is 62 or 67 is if crazy republicans wingnuts end it.
Even dire predictions only state that payment may not be as generous — but to say won’t be any or bankrupt is repeating right-wing propaganda.
I’d be interested in knowing if rob’s employer is putting anything in, what the percentage is, and if rob is smart enuf to make sure he is, at the very least, matching the percentage. Cuz that’s free money.
Sometimes I wonder what would happen if I sued to get my state pension freed so I could put it in a 401k – like, some kind of conservative’s dream court case against pension.
rob…what donatella said. it’s hard to play catch up by starting to save when you’re in your 40s. Additionally, by the time you are 59 1/2 there may not be any social security left. For sure you won’t be able to get it until you are at least 65.
They make it hard to take out your money because they want you to have something when you retire.
They also let you put the money in without paying taxes on it, so you pay extra taxes if you take it out early.
rob, you get penalized because it was put in there BEFORE taxes. In other words, you paid no income taxes on the money you erned that went in there. So, it’s not really all your money.