Wally
BrownCafe Innovator & King of Puns
You need to work for that plan
..lol
Can I withdraw ROTH 401K somehow?
- Thread starter Smooth_Loader
- Start date
..lol
BOOM!
UpstateNYUPSer(Ret)
Well-Known Member
I did the same when my kids were in college. 8 loans (2 at a time) all paid off before each graduated.
Brownslave688
You want a toe? I can get you a toe.
If you can't afford the closing costs you don't need to buying the house.
UpstateNYUPSer(Ret)
Well-Known Member
Most lenders will require that you have that money on hand prior to closing and will verify that by checking the past several months checking account statements.
That is the beauty of a VA loan. 3% origination fee and low closing costs.
DriveInDriveOut
Inordinately Right
VA loans are garbage.
UpstateNYUPSer(Ret)
Well-Known Member
As are the bulk of your “contributions” to this forum.
DriveInDriveOut
Inordinately Right
LMFAO.
GTFO Dan.
Mr. Marshall
Well-Known Member
A Roth plan is far from stupid and has special rules because you will not pay any taxes on any profits. BTW - they did tell you this - you just didn't read the details which are always included each time you start an investment Did you want someone to call you and tell every detail for every scenerio? A quick google search would have told you this is the case without coming to the board. It's a national law. I hate to say this but if you can't come up what is probably around 5k for closing without digging into retirement you probably can't afford a house. We just had to buy a furnace for 5k and there are always things like this popping up.
Smooth_Loader
Member
We can afford the closing costs, it is just going to dip into our savings more sadly. If I could've got it from the 401k it would be more beneficial to me.
Maybe put a little less into your 401k and a little more into your savings for a little bit until you build it back up?
Smooth_Loader
Member
It may not be stupid, but it certainly was never explained to me at work. And in fact they never told me about this at work. I have asked around at work and absolutely no one knows anything about the ROTH 401k plan. Wouldn't that be nice if someone in fact did call us and inform us about each scenario? It benefits them as well for us to pay into it. Also, it shows that they care, which, atleast in my center is one of the lowest priorities to management.
Of course not being able to withdraw from the ROTH 401k isn't going to break my wife and I getting the house, we have the savings to cover it. But would've been nice to been able to use it as hardship for first home as a lot of other 401k plans let you do for a bit of a buffer, you know?
Thank you for your reply.
Smooth_Loader
Member
Jkloc420
Do you need an air compressor or tire gauge
i wish you were really good
Saving for retirement is very important but so is an emergency fund.
Brownslave688
You want a toe? I can get you a toe.
Stealing from your future to pay for your present is not more beneficial.
Smooth_Loader
Member
Arguable, depending on your situation.
The compounding of time can make a few dollars now worth a whole lot more decades from now. Let the money work for you, not work for the money.
Smooth_Loader
Member
That also assumes that you will be alive to take the money.
Brownslave688
You want a toe? I can get you a toe.
A Roth account gets passed down with no taxes.
Planning on dying early has left many a people in a pickle come hold age.
