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#3235289 - 04/30/13 04:55 AM Re: Saving for retirment??? [Re: Wildcat]
MUP
Non-Typical


Registered: 08/01/07
Posts: 46480
Loc: Just North of Chatt-town

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How can you retrieve/extract 401k funds WC? I know there is a penalty, and that taxes will be paid on it as income earned. But I think our HR guy says that we can't touch it to close it out, only make a loan to half the value of it.
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MUP

Amateurs: Built the Ark

Professionals: Built the Titanic

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#3235294 - 04/30/13 05:03 AM Re: Saving for retirment??? [Re: MUP]
SCAT
6 Point


Registered: 08/10/12
Posts: 754
Loc: ANDERSON CO.

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Typically, the only way to withdraw funds while still employed, is to have a hardship as defined in your 401K plan. Otherwise, you would have to terminate employment with your employer.
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#3235299 - 04/30/13 05:21 AM Re: Saving for retirment??? [Re: SCAT]
MUP
Non-Typical


Registered: 08/01/07
Posts: 46480
Loc: Just North of Chatt-town

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\:\( That's what I was afraid of. Well, looks like I may have to default on a loan to myself then.
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MUP

Amateurs: Built the Ark

Professionals: Built the Titanic

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#3235318 - 04/30/13 06:11 AM Re: Saving for retirment??? [Re: RUGER]
KPH
10 Point


Registered: 08/06/05
Posts: 4032
Loc: Hendersonville Tenn

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 Originally Posted By: RUGER
 Originally Posted By: CBU93
So...that is the problem. What's the solution?


Problem is, the USSA will steal your money.
The solution is, liquidate your assets, party like it's 1999 and plan on working till you die. \:D

Now that is a plan
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#3235339 - 04/30/13 07:21 AM Re: Saving for retirment??? [Re: KPH]
fishboy1
16 Point


Registered: 01/13/03
Posts: 10574
Loc: Warren Co

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Here is what I don't understand.

The PLAN (Cloward/Piven) is to overwhelm the system with debt (entitlement spending and printing money) Once the system collapses and people are out of work and starving, the Socialists can take over by promising MORE goodies to the masses.

Got it.... run up the credit card until you cant pay the bills then declare bankruptcy as a country.

What is the next step? The poor will be starving. The Producers will have shut down and hidden or moved their wealth out of the country....

Do the socialists think they can just yell "do over!" and get new credit cards? Who in the global marketplace will buy their debt/treasury bonds? The math doesn't work. There will be WAY MORE people poor and hungry than producers to tax. Nobody will want to open/start a business since they will be severely taxed/punished to pay for the starving poor.
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#3235878 - 04/30/13 07:57 PM Re: Saving for retirment??? [Re: MUP]
dr
10 Point


Registered: 02/24/03
Posts: 4408
Loc: USA

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 Originally Posted By: MUP
How can you retrieve/extract 401k funds WC? I know there is a penalty, and that taxes will be paid on it as income earned. But I think our HR guy says that we can't touch it to close it out, only make a loan to half the value of it.

Don't know your age, but when you turn 59.5 you can withdraw your money from most 4o1k'S.
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"Any man who thinks he can be happy and prosperous by letting the government take care of him --- better take a closer look at the American Indian." Henry Ford

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#3236021 - 05/01/13 04:48 AM Re: Saving for retirment??? [Re: dr]
MUP
Non-Typical


Registered: 08/01/07
Posts: 46480
Loc: Just North of Chatt-town

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Few years away from being able to do that dr. My mind is just spinning trying to figure a way to save MY money before it becomes community property. Sad sad sad...
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MUP

Amateurs: Built the Ark

Professionals: Built the Titanic

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#3236038 - 05/01/13 05:52 AM Re: Saving for retirment??? [Re: farmin68]
bigluresonly
6 Point


Registered: 04/09/08
Posts: 823
Loc: Cookeville

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 Originally Posted By: farmin68
Obama and his commie cronies would love nothing more than to seize ALL retirement funds, tax the hell out of them, and then redistribute what's left equally amongst everyone, including those too lazy to work, save, and plan for retirement as well as every illegal alien.

Makes perfect sense. A long career of welfare then retirement on someone else's funds. The new American dream.

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#3236039 - 05/01/13 05:53 AM Re: Saving for retirment??? [Re: MUP]
Model70Man
12 Point


Registered: 09/30/05
Posts: 6877
Loc: Knoxville, TN

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I clicked on that link to share of Facebook, and now my Facebook page will not load at all. I hope I don't have a virus on my computer now.
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