I have a 401k from my last employer who went out of business during corona. There is about 20k in their. I know I'm going to get penalized for early withdrawal but I don't see myself ever retiring and the dollar is just getting weaker and weaker. What do?
The less you have in the dollar, the better. 6 trillion over the last year (not including the federal reserve for PPT) and another 4 trillion coming up will help destroy the dollar. House, guns, silver, supplies are all better than cash.
move out of country and secure an international job before you withdraw anything. You should be secured financially and out of here before you think about taking your money out
Move it into an IRA and you can use it as a downpayment on a really cheap house. I had to pay some kind of penalty when I did that, but I don't even remember what it was; it way less bad than I expected. Maybe with the first time home buyer incentives and other weird random government regulations that nobody could possibly understand all of my tax guy found something amazing to save me tons of money. He probably did, he's a cool guy.
Idunno. Maybe just cash it out and but all the ammo.
Well shit, considering how schwab charges fees on everything you might actually come out ahead paying the penalty to use it as a down payment on some dump!
I'd hold off if I were you. I think there's a good chance the economy is in a bubble right now, buoyed up by unrealistic spending both by citizens and by governments. But tax revenue is down and general income is down so when enough loans start failing BOOM there goes the party. And when that happens not only will cash be king but that house you want will be cheaper.
[ + ] Flabbygasted
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[ + ] HeartUnderBlade
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[ + ] Darth_Nougat
[ - ] Darth_Nougat 0 points 3.6 yearsMar 29, 2021 14:32:38 ago (+0/-0)
Idunno. Maybe just cash it out and but all the ammo.
[ + ] JillBidensTaint
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[ + ] Darth_Nougat
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[ + ] pickingrinninspittin
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We should know for sure by the early Fall.
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[ + ] JillBidensTaint
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[ + ] binrobinrro
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