Gonna put more $ in your 401(k)? Do Tell…

[Johney]

I'm thinking of drawing from my 401K before it all disappears, at least I can say I got to use some of it. Dammit. At the rate is disappearing now it'll be gone by the time I hit 59 and a half

 

[IVE GOTTA PACKAGE 4U]

I'm thinking of drawing from my 401K before it all disappears, at least I can say I got to use some of it. Dammit. At the rate is disappearing now it'll be gone by the time I hit 59 and a half

No no

Just hold on

 

[Johney]

No no

Just hold on

I don't know bud I don't have much faith in the system anymore. Get what I can get while I can. I don't get any penalties before 59 and a half as long as I'm retired.


Maybe I should ask Dave?

 

[IVE GOTTA PACKAGE 4U]

I don't know bud I don't have much faith in the system anymore. Get what I can get while I can. I don't get any penalties before 59 and a half as long as I'm retired.


Maybe I should ask Dave?

Just think two and a half years ago when the market was around 20,000.
That have been a mistake of a lifetime you should have pulled that money out then.

Trust me I understand it's hard to watch
It's probably a little easier for me because I'm still contributing

 

[Johney]

It's probably a little easier for me because I'm still contributing

Exactly. Put yourself in my shoes.

 

[IVE GOTTA PACKAGE 4U]

Exactly. Put yourself in my shoes.

That's why I had a plan buddy
That's why I put money on the sidelines last year

 

[oldngray]

Exactly. Put yourself in my shoes.

Better than Dave's shoes

 

[Johney]

Better than Dave's shoes

View attachment 406622

I'm thinking he's more like these shoes

 

[DriveInDriveOut]

I'm thinking of drawing from my 401K before it all disappears, at least I can say I got to use some of it. Dammit. At the rate is disappearing now it'll be gone by the time I hit 59 and a half

If you're actually thinking about doing this you need to see a financial advisor.

 

[IVE GOTTA PACKAGE 4U]

If you're actually thinking about doing this you need to see a financial advisor.

Or psychiatrist

 

[Johney]

Or psychiatrist

Thanks Dr. Phil

 

[StackedOut’n’Vibing]

Take it all out and use that capital to short this baby all the way to zero. You got this!

 

[Johney]

Take it all out and use that capital to short this baby all the way to zero. You got this!

I’m not sure exactly what that means.

 

[StackedOut’n’Vibing]

I’m not sure exactly what that means.

It’s only a joke. Shorting something means to borrow shares in the assumption that the price will fall over time. Opposite of buy low sell high.

 

[Over70irregs]

No no

Just hold on

No no

Just hold on

That’s a personal decision. If you took $ out awhile ago you could do it penalty free. Seek pro advice.

 

[IVE GOTTA PACKAGE 4U]

That’s a personal decision. If you took $ out awhile ago you could do it penalty free. Seek pro advice.

He can still take that penalty free I just think he'll be missing an opportunity by withdrawing the money now

 

[Over70irregs]

I'm thinking of drawing from my 401K before it all disappears, at least I can say I got to use some of it. Dammit. At the rate is disappearing now it'll be gone by the time I hit 59 and a half

When they print it might go back up. The younger folks are not buying the BS. They have way more info than we had coming up. If I was younger I would move in a different direction.

 

[Over70irregs]

He can still take that penalty free I just think he'll be missing an opportunity by withdrawing the money now

 

[IVE GOTTA PACKAGE 4U]

View attachment 406654

Nobody can accurately predict what's going to happen

I bet you 5 years ago nobody particularly the covid pandemic and the brave inflation we're dealing with right now

 

[Jones]

When things look hopeless and everyone is cashing out and running for the exits is usually where the next bull market starts.