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be patient and put your 401k in a very conservative position. Your house will do just fine , how many years to pay-off? Cut out all expenditures except the necessary ones.Your all right. Here is my thoughts. I hate payments. And all of the folks in 2001 lost half there 401k. So what's the difference if we can predict this will happen again? That's fortune telling though. But the evidence is there to a degree. I owe 200k on house. I make good money. The house is 1,300 square feet, with 6 people in it. We live way below our means. And we are happy!
Borrow the money from the 401k, no taxes, and you pay yourself the payment and keep the interest in the 401k.
be patient and put your 401k in a very conservative position.
Check out Dave Ramsey's web page.
You can cut off a few years by a making two payments per month, and also making a 13th payment each year, 25 and 26 if you pay twice a month.
An IRA is just a gov/bank scam.
You are attempting to pay taxes on income 'later'. Why? So when taxes are double what they are now you can pay then? If the tax rate were 100% it would take Americans 26 years to pay off the debt.
Why do people faced with grim facts retreat into the 'all is normal' mode (aka Normalcy Bias) and even bother with nonsense like an IRA? Answer: Because an authority figure(s) and peers said to do it. Gawd forbid you think outside the box and you might get chuckled at by the deluded. Get a clue. It isn't 1995.
Anyone who believes at 39 they will see usable revenue at 62 from an IRA (not sure about the age) is simply deluded. $400,000k might buy you a very nice pack of gum, who knows, maybe not.
Our economy and monetary system is going to collapse WAY before then. Do you believe the money printing of trillions of dollars out of thin air is going to last forever? That the Federal Reserve fraud and the dollar/Petro Ponzi will still be going on in 20 years? Laughable! More money has been printed in the last 12 years than in the entire history of this nation dating back to 1776.
** Reality Check *** ** Wake up time! ** Turn off the banker media and learn a few things.
Anything you don't have in your possession won't do you a damn bit of good.
An IRA fund in some company 'out there' somewhere LOL!!! isn't going to do you squat. In fact, getting money from your local bank is going to be a futile endeavor. Study up on hyperinflation and 'bank holidays."
I really have to laugh at this stuff at this point. Economy starts its collapse ... well I better call Etrade and cash out that IRA! HAHAHAHA No! All you are going to get is a recording at best, at worst, an East Indian laughing at you from the other side of the world for being so naive. Even if by some miracle you can get some funds its value will be declining hourly vs real goods.
Only the naive Leave It To Beaver types have faith in government/banker promoted savings plans anymore. Do people even know that the FDIC is underfunded 1:371?
Cash that crap out, pay the 10% penalty + current tax rate (I did that). Now the goods I bought are worth 3x more just six years later and secure. Well, nothing is ever secure, but if you want INSECURE keep your assets somewhere they can be stolen with a key stroke.
Take the funds and buy a crap load of real things, anything. A bathtub full of 22lr, silver coins, a box of nails, a cordless drill, a generator, a chair, a poster for your bedroom, a radio, paying off your home/debt, ANYTHING .....but leave soon to be worthless dollars and government saving scams behind. They want you dependent and helpless, always.
Frankly, given world events, it may be too late for you to dump the IRA scam already, but worth a try, at least get started on it.
^ This is why I am loved by some here and vehemently despised by others. eace: Good luck to all and I agree to respectfully disagree with contrary (idiotic, mis-informed, deluded) opinions!!
An IRA fund in some company 'out there' somewhere LOL!!!