Use My 401(k) To Pay Off The House?
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Can I Use My 401(k) to Buy a House?
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Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
If you can’t buy a house in cash you can’t afford it.
I began my investment journey at the age of 33, primarily through hard work and dedication. I am to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Looking for where to begin putting in some funds that will aid me after retirement. Saving up isn't giving anything in return
Just right at the end mentioning her son passing away leaves this on a sour note. Ouch!
OMG… get to your question…
Omg just ask the question
lit ep
Red flag after red flag. Yikes. I hate to be so negative, but this lady isn't going to follow the baby steps and has probably already cashed out the 401k.
Usually when Daloney is on I don’t watch. He’s such a jerk.
Sounds like the other two need to start paying you.
I don’t think she knows what baby steps are about?
Why would you be paid less after covid? Everyone is hiring.
John bashing men again, why does he hate men?
Dear god lady, GET TO THE POINT
Of course, John has to use any chance he can get to call the husband a coward.
She was all over the place. Mentioning mold in the house when her question was should she take out of 401(k). Sheesh.
Baloney calls the husband a coward? Jesus. How is this guy a licensed therapist or whatever he is? That is unethical at best and at worst if someone runs into him on the street he's going to get physically assaulted.
In 2011 I pulled $60k out of my pension fund to pay $64k cash for my 2002 sq foot home. The house is now worth $350k, down from the $394 it was at 7 months ago. I would do it again 1000x. So far, I have saved about $180k in payments/rent that I never had to pay. Then there is the equity. That $64k put almost $500k in my net worth. Add my collections of things I bought with the wages over the last 12 years and I am close to $850k net worth, debt free. Just my path, it may not work for everyone. Huge Dave fan though.
I want to have unlimited children and have no idea why I dint have money… moron
Most of the people calling in to Dave – he can really only give them hindsight advice which really helps those that might be on a path of financial destruction but not quite there yet. The people calling in that are "in so deep" or "off the cliff" need prayers and hope as much as anything. ❤
Never use your 401K money for anything but retirement or you may have no retirement.
John’s only line: “He’s a coward!” Haha so fitting. Like a pull string doll
Wow he gets so nasty and what a bully
What happened to "pay off the car today" and then put all but all but 1,000 toward your debt, "smallest to largest?"
She needs to get a job and help pay off the house in the next couple of yrs.