401k question

[MECH-lift]

@Maple Grove MN Driver I need to take out of my 401k for a kilo of cocaine...is this possible ?

 

[IVE GOTTA PACKAGE 4U]

Taking Loans or Withdrawals Can Be Costly

 

[Jkloc420]

You take the money out as a loan and you get a set amount of time to pay it back. The money you pay back comes directly out of your paycheck, plus you pay interest back on what you take out. If you quit your job then you have to report it on your taxes because the information is sent to the irs

 

[IVE GOTTA PACKAGE 4U]

You take the money out as a loan and you get a set amount of time to pay it back. The money you pay back comes directly out of your paycheck, plus you pay interest back on what you take out. If you quit your job then you have to report it on your taxes because the information is sent to the irs

5 years.

 

[Jkloc420]

It is not considered a withdraw

Taking Loans or Withdrawals Can Be Costly

 

[Jkloc420]

5 years.

perhaps

 

[IVE GOTTA PACKAGE 4U]

It is not considered a withdraw

That link I posted was from the Prudential website.

 

[Jkloc420]

That link I posted was from the Prudential website.

i dont know because something dont sound right, he started at 18 is 23 now and only driving full time for two years. Now he is building a house but needs 401k money for closing cost etc. So his wife must have a good job

 

[IVE GOTTA PACKAGE 4U]

i dont know because something dont sound right, he started at 18 is 23 now and only driving full time for two years. Now he is building a house but needs 401k money for closing cost etc. So his wife must have a good job

He might not be able to borrow that much. It depends on how much you have in your 401k

 

[Jkloc420]

He might not be able to borrow that much. It depends on how much you have in your 401k

building a new house is not cheap

 

[IVE GOTTA PACKAGE 4U]

building a new house is not cheap

No it's not. Definitely don't want to bury yourself in debt.

 

[GenericUsername]

building a new house is not cheap

Some of the builders down here require at least $50,000 down before they even will break ground on your house if you're planning on buying into a subdivision that's being built.

 

[Jkloc420]

Some of the builders down here require at least $50,000 down before they even will break ground on your house if you're planning on buying into a subdivision that's being built.

pretty much

 

[burrheadd]

Well you shouldn't. That money is for retirement but people don't seem to grasp that idea.

You have to pay it off with interest

 

[Maple Grove MN Driver]

@Maple Grove MN Driver I need to take out of my 401k for a kilo of cocaine...is this possible ?

I sell on credit.
Take 1/2 kilo and cut it 50/50 sell to stupid people and 1/2 Key for yourself

 

[Maple Grove MN Driver]

Well you shouldn't. That money is for retirement but people don't seem to grasp that idea.

Thanks Dave Ramsey.

Still makes your statement wrong.

 

[IVE GOTTA PACKAGE 4U]

You have to pay it off with interest

With after tax money!

 

[MyTripisCut]

With after tax money!

 

[IVE GOTTA PACKAGE 4U]

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Off topic
Post reported

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Yours too PAL

 

[MECH-lift]

@Indecisi0n