You can do a lifetime distribution early without the tax penalties....look into lifetime IRA distributions....at age 45 or 50 etc. as long as you do the lifetime average equation and set up the distributions evenly over the 20 or 30 yrs. depending on your life epectancy factor.
@hamzah938 join the club. I don't have much saved and never started and 401K/IRA and actually cashed out years ago when Morgan Stanley started assessming penalties for not investing into my account (service fee is what they called it). All I have is a basic bank account and that is as far as I go. This govt is not worht investing in if they can't get their finances in order. If they fuck with retirement accts, then govt will slit its own thorat and face the wrath of the people.
AT 19yrs of age I was "tricked" into getting a 401k.. pressure from my co-workers... Now at 25 I am in school struggling tring to determine how am I going to pay this and that all awhile I have nearly 10,000 dollars just sitting there and can't touch it unless someone else approves my reasoning... I feel so stupid now
You can do a lifetime distribution early without the tax penalties....look into lifetime IRA distributions....at age 45 or 50 etc. as long as you do the lifetime average equation and set up the distributions evenly over the 20 or 30 yrs. depending on your life epectancy factor.
MARISHKA242 1 month ago
I spent ALL my money, I'm broke, and I feel great!
hamzah938 7 months ago
@hamzah938 join the club. I don't have much saved and never started and 401K/IRA and actually cashed out years ago when Morgan Stanley started assessming penalties for not investing into my account (service fee is what they called it). All I have is a basic bank account and that is as far as I go. This govt is not worht investing in if they can't get their finances in order. If they fuck with retirement accts, then govt will slit its own thorat and face the wrath of the people.
shaithis80 7 months ago
AT 19yrs of age I was "tricked" into getting a 401k.. pressure from my co-workers... Now at 25 I am in school struggling tring to determine how am I going to pay this and that all awhile I have nearly 10,000 dollars just sitting there and can't touch it unless someone else approves my reasoning... I feel so stupid now
HONEYBCRISSY 9 months ago
@HONEYBCRISSY you can change it to Roth IRA. First roll it over to a Traditional IRA, then roll it over to Roth IRA.
Then you can take the money out.
whitemike7 5 months ago
@HONEYBCRISSY I was able to cash my 401k out after I changed jobs! So keep that in the back of your mind, if you ever get into a position like that.
Zuko38128 5 months ago
@Zuko38128 Thanks for the info.. I am looking into cashing it out now... I stopped contributing to....
HONEYBCRISSY 5 months ago
HAHAHAHA! the jokes on the Feds! I don't have a 401K of IRA!!!
happymax1 9 months ago
Get your funds out of your 401K and IRA's!!
GivingYouTruth 9 months ago