Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Stupid me emptied my 401k to buy a house at 42"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]Last year, Stupid me emptied my 401k to buy a house at 42. I just got tired of waiting and home prices just kept going up while rates still remained high. I bought a $700k house and put 45% down $315,000 and with fees I put $350k. After paying taxes and penalties etc my $401 balance is down to $50k. I don't have an IRA account either. 1 year later, mortgage is reasonable, living expenses and maintenance costs are reasonable as well and built my savings to 20k in 1 year. Now I am starting retirement planning over. I just contributed the max to Roth. Anyone else raided their 401k? Do you regret it? Or did it turn out to be a good decision? I don't plan to retire at 50 like most people here..as long as someone wants my services I am going to work until at least 65. Taking a 401k withdrawal early is like taking out a 30% loan after taxes and fees. Cmon man. [/quote][/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
