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401 (k)
- Thread starter NoExcuses
- Start date
IN December 2005 I rolled over my pension from my former employer to an IRA. I ??? how I could get it since chanceds of living to the requirement age are slimmer than most people. I was told I can use it for educational purposes for myself or my dependant daughter (anything connected to education not just tuition) & of course my husband can get it upon my death which could pay the funeral expenses. Thats all I jave for ya!
IN December 2005 I rolled over my pension from my former employer to an IRA. I ??? how I could get it since chanceds of living to the requirement age are slimmer than most people. I was told I can use it for educational purposes for myself or my dependant daughter (anything connected to education not just tuition) & of course my husband can get it upon my death which could pay the funeral expenses. Thats all I jave for ya!
When i contributed to my 401K plan, my employer let us take loans against it and then just paid it back by payroll deductions, we did this for the down payment of our house. Also when i left that job ( 15 years ) i did pull it out and pay the penalty on it. I think that some company's let you borrow against it or take part of it early . I think that it is called a hardship withdrawal.
Kaitsmom<img src="i/expressions/rose.gif" border="0">
Kaitsmom<img src="i/expressions/rose.gif" border="0">
When i contributed to my 401K plan, my employer let us take loans against it and then just paid it back by payroll deductions, we did this for the down payment of our house. Also when i left that job ( 15 years ) i did pull it out and pay the penalty on it. I think that some company's let you borrow against it or take part of it early . I think that it is called a hardship withdrawal.
Kaitsmom<img src="i/expressions/rose.gif" border="0">
Kaitsmom<img src="i/expressions/rose.gif" border="0">
I don't do 401 (k)s, but I think I would probably look into what the penalities are and keep saving that way since it's free money from your employer. You can't beat free money that matches whatever you put into it! Maybe plan on using it when you are ready to buy a house, a down payment or do something big. I think taking advantage of that set up is a pretty cool thing. Retirement doesn't have to be the only thing you use it for.
I don't do 401 (k)s, but I think I would probably look into what the penalities are and keep saving that way since it's free money from your employer. You can't beat free money that matches whatever you put into it! Maybe plan on using it when you are ready to buy a house, a down payment or do something big. I think taking advantage of that set up is a pretty cool thing. Retirement doesn't have to be the only thing you use it for.
smoothdave
New member
just now i have not put anything towards mine.... i have neevr seen a topic on this before and i would liek to know every ones opinion in this, just now i am inreally good health and i am greatful for that but i dont know when every thing is going to go "down hill" any time soon or in a few decades.. what are the chances of really living to be 65..? i dont no if there is such a thing called "to positive" but i live a very positive life and feel that i can do it, i think to my self "i am gonna beat this crap"it is comin up for 2 years i have known i have had cf and i would prob say i have got better ever since i have been on med, i would just like a little input from all of u guys to help me think this one over... i forgot to log in it is smootdave.
smoothdave
New member
just now i have not put anything towards mine.... i have neevr seen a topic on this before and i would liek to know every ones opinion in this, just now i am inreally good health and i am greatful for that but i dont know when every thing is going to go "down hill" any time soon or in a few decades.. what are the chances of really living to be 65..? i dont no if there is such a thing called "to positive" but i live a very positive life and feel that i can do it, i think to my self "i am gonna beat this crap"it is comin up for 2 years i have known i have had cf and i would prob say i have got better ever since i have been on med, i would just like a little input from all of u guys to help me think this one over... i forgot to log in it is smootdave.
smoothdave
New member
i am an idiot i did log in haha
smoothdave
New member
i am an idiot i did log in haha
I invest in my work 401-K and they presently match 25%. I look at this as a savings account and have also been told that if we ever need the money for medical expenses, down payments, etc. that we can borrow against this account. It's amazing that when I started contributing I did not notice a big change in my paycheck because it is pre-tax money that you contribute.
I invest in my work 401-K and they presently match 25%. I look at this as a savings account and have also been told that if we ever need the money for medical expenses, down payments, etc. that we can borrow against this account. It's amazing that when I started contributing I did not notice a big change in my paycheck because it is pre-tax money that you contribute.