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How do you pull it out?I pulled all my money out last May because I didn't trust Mr. Potato Head in the White House.
The move (and lack of trust in Biden) has saved me about $25,000. Always sell when a Dim enters the White House.
The truth is painful but it is still the truth.Total bullshit.
I cant touch mine until retirement or i quit my job.Mine had a website and I just logged on and filled out the form.
I provide links and you provide bullshit.You liars never tell the truth.
You always have the right to withdraw some or all of your contributions and their earnings from a 401K, but it's not always that black and white. Every withdrawal you take will be subject to income taxes, and you might owe a tax penalty as well. In most cases you will have to pay a 10% withdrawal penalty if you are under 59 1/2 plus taxes on withdrawals. Also, you may lose all or part of the contributions by your employer. The vesting period for a 401k varies with employer.I cant touch mine until retirement or i quit my job.
I can take a loan or hardship but thats it.You always have the right to withdraw some or all of your contributions and their earnings from a 401K, but it's not always that black and white. Every withdrawal you take will be subject to income taxes, and you might owe a tax penalty as well. In most cases you will have to pay a 10% withdrawal penalty if you are under 59 1/2 plus taxes on withdrawals. Also, you may lose all or part of the contributions by your employer. The vesting period for a 401k varies with employer.
Yes, You Can Withdraw Money From Your 401(k) Before You Retire.
You always have the right to withdraw contributions and their earnings from your 401(k), but that doesn't mean that you should. Here's why.www.thebalance.com
The chips are really stacked against the small investor who moves in and out the market. For those that are in the market for the long haul, the government rewards you with tax sheltered investment plans and long term capital gain taxes. Most mutual funds charge fees to make short investments and brokerages charge small investors higher fees and provide less services than for big investors.View attachment 646929
Take a deep breath, let it out.
401K's are not intended to be something you put in and take out a a whim. The intent is to look to the long term and let it ride.
This coming from someone that has been investing in my 401K for many years. It goes up, it goes down, in the long term it will go up again. As a matter of fact I just got a bonus at work and arranged with payroll to put the whole thing into my 401K.
Try gaming the system and pulling money means that your paper "losses" become real.
WW
Usually most 401k plans offer a safe option. A garuanteed interest fund or government bond fund. Put the money there. It won’t return shit, but you won’t lose more of your money.I can take a loan or hardship but thats it.
I tried to close my account completely so i could put it in the bank, but they rejected it.
I have lost 27 grand this yearSo, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?
You can do nothing. That is the problem with 401ks as a replacement for pensions.So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?
I have never seen such a plan but if the plan document says you can't take early distributions you're screwed. If you're employer does not contribute to the plan, I would stop contribution and open an IRA. If the rate is low enough, a loan might help.I can take a loan or hardship but thats it.
I tried to close my account completely so i could put it in the bank, but they rejected it.
How do you pull it out?
I have never paid much attention to market performance predictions based on presidents, party, alignment of the stars, groundhog day, or who won the super bowl, because once you know the outcome you can always find statistics that seem to have predicted that outcome, but they are not predictors but rather just statistics. However, if you believe political party determines the market performance, consider the following:
The average Republican administration since 1900 saw gains of 3.5% per year, while the Democrats saw gains of almost twice as much, at 6.7% per year.
“Since 1945, the S&P 500 has averaged an annual gain of 11.2% during years when Democrats controlled the White House well ahead of the 6.9% average gain under Republicans.”
How Presidential Elections Affect the Stock Market
Myths abound, but when it comes to your portfolio, it's not as simple as which party wins the White House.www.kiplinger.com