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Taking money out of 401k with no penalty??
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JohnDean
Posted 7/4/2020 05:14 (#8352734 - in reply to #8352521)
Subject: RE: Taking money out of 401k with no penalty??


Akron, OH
davpal - 7/3/2020 22:13

Go ahead and do it for the peace of mine. $50,000 isn't going to make that much difference in 8 years anyway and if you're a federal worker you probably have a big fat retirement pension coming your way in 8 years anyway. After invensting in a 401K for 37 years I can tell you that a 401k is pretty much a savings account but using it for a real "retirement fund" is a bit of a pipe dream. They rarely deliver because life gets in the way and almost everybody takes it out for something else along the way.


Actually this is not true at all. 401(k) plans are the most common means to creating millionaires in the United States. Everybody does not take money from their retirement funds for "life getting in the way", folks with that mindset rarely accumulate wealth.
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