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Anyone planning to cash out (what's left of) 401k before Jan. 20? [vanity]
self | 1/13/09 | NewJerseyJoe

Posted on 01/13/2009 1:02:58 PM PST by NewJerseyJoe

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1 posted on 01/13/2009 1:02:58 PM PST by NewJerseyJoe
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To: NewJerseyJoe

I may borrow out of mine. I cant cash it out.


2 posted on 01/13/2009 1:04:47 PM PST by ColdSteelTalon (NOBAMA 2008)
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To: NewJerseyJoe

I plan on keeping my money in PayPal. Then when I go overseas and find a place, I’ll open a bank account and transfer my assets to the new account.


3 posted on 01/13/2009 1:04:47 PM PST by Niuhuru (Fine, here's my gun, but let me give you the bullets first. I'll send them to you through the barrel)
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To: NewJerseyJoe

The early withdrawl penality is too hefty for me.


4 posted on 01/13/2009 1:05:06 PM PST by Cementjungle
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To: NewJerseyJoe
In February I'll be the right age so as not to get penalized (any further).
5 posted on 01/13/2009 1:05:27 PM PST by elpinta (Insured by Walther, Glock, Smith & Wesson. Protected with 7.62 & 12 ga.)
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To: NewJerseyJoe

I lost 1.9% in 2008, not exactly panic time.


6 posted on 01/13/2009 1:05:43 PM PST by Graybeard58
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To: Niuhuru
I plan on keeping my money in PayPal.

And if PayPal goes bankrupt, you lose all of it and become a creditor.

7 posted on 01/13/2009 1:05:49 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: Cementjungle

There’ll be a Retroactive Confiscation Tax anyway.


8 posted on 01/13/2009 1:06:31 PM PST by massgopguy (I owe everything to George Bailey)
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To: elpinta
In February I'll be the right age so as not to get penalized (any further).

Oh you kid! I hit that point 4 years ago.

9 posted on 01/13/2009 1:07:45 PM PST by Graybeard58
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To: massgopguy

Our banker says to bet on 4.25 percent mortgage interest on a refi after Bambi takes office.


10 posted on 01/13/2009 1:07:53 PM PST by Eric in the Ozarks
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To: rabscuttle385

Good idea. I’ll become a creditor and terrorize people for a living.


11 posted on 01/13/2009 1:08:24 PM PST by Niuhuru (Fine, here's my gun, but let me give you the bullets first. I'll send them to you through the barrel)
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To: NewJerseyJoe
I've thought about it. But, what do you do with the money? Do you keep it under the mattress? Maybe some freepers can provide advice.
12 posted on 01/13/2009 1:08:33 PM PST by SamiGirl
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To: SamiGirl

Buy tillable land, seeds, guns and ammo.


13 posted on 01/13/2009 1:10:33 PM PST by Graybeard58
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To: Graybeard58

Ah, you’ve seen the slow destruction of the ol’ USA then too!


14 posted on 01/13/2009 1:12:31 PM PST by elpinta (Insured by Walther, Glock, Smith & Wesson. Protected with 7.62 & 12 ga.)
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To: NewJerseyJoe
Dumb idea.

While the Keystone Kops in DC are still trying to figure out where the first installment of the "bailout" went, just as they prepare to throw another few hundred "billions" down the rathole, certain questions remain.

Important questions which haven't even been asked (that I know of), let alone answered.

The most impportant being, what are the tax consequences of losing 25 to 60% of the value of your 401(k)? This is particularly critical for those alreading drawing out of their hard-earned funds.

Anyone out there have a clue?
Does that qualify the victims for a piece of the "bailout?"

So many questions, so little information and so many crooks still running things.

15 posted on 01/13/2009 1:13:59 PM PST by Publius6961 (Change is not a plan; Hope is not a strategy.)
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To: Graybeard58

“Buy tillable land, seeds, guns and ammo.”

Don’t forget your gold... and building materials too.


16 posted on 01/13/2009 1:14:28 PM PST by DieNarrin (Artificial Intelligence is no match for Natural Stupidity!)
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To: Niuhuru
Good idea. I’ll become a creditor and terrorize people for a living.

If you want to terrorize PayPal and eBay, by all means, go for it. LOL.

Seriously, though, don't keep your money in a PayPal account. It's not smart.

17 posted on 01/13/2009 1:14:39 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: Graybeard58

Looks like you’re “gonna party like it 1999”.


18 posted on 01/13/2009 1:16:08 PM PST by Bunkasaurus (I'm indecisive....or am I?)
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To: Graybeard58

Good advice or buy a home on some little island drink margaritas and sit on the beach and read, go fishing.......


19 posted on 01/13/2009 1:18:17 PM PST by mojitojoe (Not my president.)
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To: rabscuttle385

Not forever, just as a holding place until I open my new account. Then I’ll move it all into the bank account.

I already have the steps planned out and I know it sounds unpatriotic, but I do not feel safe with Obama in office. For a woman, I have to take things into consideration that a lot of other men don’t.


20 posted on 01/13/2009 1:18:17 PM PST by Niuhuru (Fine, here's my gun, but let me give you the bullets first. I'll send them to you through the barrel)
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