401K

[IVE GOTTA PACKAGE 4U]

Don't forget about coal

 

[OhShoot]

Cash crop buddy.

I'm planting corn out back next year *b

 

[MyTripisCut]

I'm planting corn out back next year *b

Watch out, @IVE GOTTA PACKAGE 4U will be over making ty pizza everyday

 

[DriverNerd]

I’m at $300,000 plus in 401k and IRA combined. Working hard to keep adding to it but it’s a sacrifice. How’s everyone doing?

I have $430k between my 401k and IRA combined, but I'm not debt free. I still owe $130k on my mortgage.

 

[Thebrownblob]

That's always about how much you have in your retirement savings but how much debt do you really have?

15 more months to pay off my house. 401k and IRA is approaching 1 million combined.


WDFD

 

[IVE GOTTA PACKAGE 4U]

15 more months to pay off my house. 401k and IRA is approaching 1 million combined.


WDFD

Sweet

 

[Thebrownblob]

Sweet

How does that rule of 55 work again? lol

 

[IVE GOTTA PACKAGE 4U]

How does that rule of 55 work again? lol

You have to be separated from your employer and as long as you're 55 or older you can make withdrawals without paying the 10% penalty
You also have to leave the money in the 401K you cannot roll it over.

 

[Thebrownblob]

You have to be separated from your employer and as long as you're 55 or older you can make withdrawals without paying the 10% penalty
You also have to leave the money in the 401K you cannot roll it over.

So I would have to quit working at 55? Where is the downside?

 

[Wally]

How does that rule of 55 work again? lol

Trade her in time for younger model?

 

[Thebrownblob]

Trade her in time for younger model?

She might trade me in!!

 

[pkgdriver]

You have to be separated from your employer and as long as you're 55 or older you can make withdrawals without paying the 10% penalty
You also have to leave the money in the 401K you cannot roll it over.

I believe if you are still working calendar year of 55 and retire,quit etc you can do this.

 

[IVE GOTTA PACKAGE 4U]

I believe if you are still working calendar year of 55 and retire,quit etc you can do this.

But you might possibly owe state tax on that money

 

[pkgdriver]

But you might possibly owe state tax on that money

Yup
Our plan may not allow it either.

 

[Thebrownblob]

Yup
Our plan may not allow it either.

SOBs

 

[IVE GOTTA PACKAGE 4U]

Yup
Our plan may not allow it either.

That's a good point
Our plan has very strict rules.

 

[IVE GOTTA PACKAGE 4U]

SOBs

10 more years for you buddy

 

[Next Day Err]

10 more years for you buddy

It’s just 400,000 more stops. How hard could it be??

 

[IVE GOTTA PACKAGE 4U]

It’s just 400,000 more stops. How hard could it be??

Cakewalk

 

[pkgdriver]

10 more years for you buddy

Excellent
Hopefully he leaves though before your son Upstate visits and tells him it’s time to go.