I want my 401k money now!!!

[Mugarolla]

Just got off the phone they said I can’t withdraw. Wtf? Are they bsing me?

I have a Roth 401k
And I have a regular 401k

I thought I could take out my Roth 401k... can i not?

They lied to you.

How to Get Money Out of Your 401(k) or IRA

 

[OrionsBitch]

Take a look at the market cap of crypto currency and the market cap of just GDP. Then add the market cap of every other fiat currency and you will see your issue....

Tell me oh Grand Master what coins are you investing in? Litecoin? Ethereum? XRP? IOTA, Golem? Pls

Do I use gold coins at the store? Do I use them at the deli to pay for lunch?

Bitcoin is nothing more than a platform to store value.... just like gold

Blockchain tech is never going to be used as a true currency. Now supply chain solutions? Transmission of data on a decentralized network? Smart contracts that can all but eliminate whole legal departments for corporations? YES!!!

Your a “tech” guy. Systems like block lattice and Tangles are the only type of systems that will be currency bassed. Not blockchain.

FYI i too have a “tech/i.t.” background

 

[OrionsBitch]

Geeezus friend'n Christ if your blockchain depth of knowledge is "but it's hard to spend. Cash is king" then just stop before you make yourself look even dumber.

If you want to invest in"Block chain technology" then you should be investing in Google, IBM, and other large tech companies that are sniping any decent programmer from all these coin projects....

 

[Faceplanted]

Take a look at the market cap of crypto currency and the market cap of just GDP. Then add the market cap of every other fiat currency and you will see your issue....

Tell me oh Grand Master what coins are you investing in? Litecoin? Ethereum? XRP? IOTA, Golem? Pls

I posted a few pages back the 4 coins I’m in heavy till the end of the year

If you want to invest in"Block chain technology" then you should be investing in Google, IBM, and other large tech companies that are sniping any decent programmer from all these coin projects....

what is decentralized. Do you know what’s oracles are? Look into chainlink ticker is LINK.

You need multiple master nodes in all types of different countries and different people’s hands for it to truly be decentralized. IBM is exactly the opposite of that.

You honestly have no clue about blockchain and it’s obvious as

 

[OrionsBitch]

I posted a few pages back the 4 coins I’m in heavy till the end of the year

what is decentralized.

Crypto is nowhere near being decentralized....it's already heavily regulated. You have to pay capital gains tax on it. It's easy enough to track transactions. Monero is about the one that's close to being decentralized.

 

[Faceplanted]

Crypto is nowhere near being decentralized....it's already heavily regulated. You have to pay capital gains tax on it. It's easy enough to track transactions. Monero is about the one that's close to being decentralized.

You don’t even know what decentralized means when it pertains to crypto. Just stop man.

 

[UpstateNYUPSer(Ret)]

I got around half a mil in real estate equity. 0 credit card debt. Thanks for your concern.

Back to my question.

Dave, please explain the process you went through to withdraw. Dave, you withdrew from your Roth 401k right?

It was my Edward Jones Roth IRA, not a 401k.

 

[Mugarolla]

How is it possible? Do I Have to roll over/transfer to another investment account first?

Dug a little deeper.

Your problem may be that you are still working for the employer that sponsors your 401K.

You can get your money if you no longer work for the sponsoring employer.

What about my current 401(k)? Can I access that money at any time?

You cannot take a cash 401(k) withdrawal while you are currently working for the employer that sponsors the 401(k) unless you have a major hardship. That being said, you can cash out your 401(k) before age 59 ½ without paying the 10 percent penalty if:

1. You become completely and permanently disabled
2. You incur medical expenses that exceed 7.5 percent of your gross income
3. A court of law orders you to give the funds to your divorced spouse, a child, or a dependent
4. You retire early in the same year you turn 55 or later
5. You are permanently laid off or terminated, you quit, or you retire and have established a payment schedule of regular withdrawals in equal amounts for the rest of your expected natural life.

Additionally, you can cash out your 401(k) and pay the 10 percent penalty if you need funds for certain financial hardships and have no other source of funds. These hardships include:

1. The purchase of your primary home
2. Higher education tuition, room and board, and fees for the next twelve months for you, your spouse, or your dependents or children
3. To prevent eviction from your home or foreclosure on your primary residence
4. Tax-deductible medical expenses that are not reimbursed for you, your spouse, or your dependents
5. Other severe financial hardship

 

[OrionsBitch]

You don’t even know what decentralized means when it pertains to crypto. Just stop man.

Well why don't you fill me in Mr. Winklevoss

 

[Faceplanted]

Dug a little deeper.

Your problem may be that you are still working for the employer that sponsors your 401K.

You can get your money if you no longer work for the sponsoring employer.

What about my current 401(k)? Can I access that money at any time?

You cannot take a cash 401(k) withdrawal while you are currently working for the employer that sponsors the 401(k) unless you have a major hardship. That being said, you can cash out your 401(k) before age 59 ½ without paying the 10 percent penalty if:

1. You become completely and permanently disabled
2. You incur medical expenses that exceed 7.5 percent of your gross income
3. A court of law orders you to give the funds to your divorced spouse, a child, or a dependent
4. You retire early in the same year you turn 55 or later
5. You are permanently laid off or terminated, you quit, or you retire and have established a payment schedule of regular withdrawals in equal amounts for the rest of your expected natural life.

Additionally, you can cash out your 401(k) and pay the 10 percent penalty if you need funds for certain financial hardships and have no other source of funds. These hardships include:

1. The purchase of your primary home
2. Higher education tuition, room and board, and fees for the next twelve months for you, your spouse, or your dependents or children
3. To prevent eviction from your home or foreclosure on your primary residence
4. Tax-deductible medical expenses that are not reimbursed for you, your spouse, or your dependents
5. Other severe financial hardship

Thanks brother. I have some ideas. Gonna dig a little deeper.

 

[Faceplanted]

Well why don't you fill me in Mr. Winklevoss

Decentralized means more than 1 organization, or group of people control it.

Bitcoin IS decentralized. The transactions are verified by anybody who is mining at any time in any place in the world.

This is the whole appeal of block chain. Nobody control it, and everything is on a public ledger to be looked at and verified if need be.

 

[Brownslave688]

Crypto is nowhere near being decentralized....it's already heavily regulated. You have to pay capital gains tax on it. It's easy enough to track transactions. Monero is about the one that's close to being decentralized.

You realize none of what you said here has anything to do with decentralization

 

[Brownslave688]

Dug a little deeper.

Your problem may be that you are still working for the employer that sponsors your 401K.

You can get your money if you no longer work for the sponsoring employer.

What about my current 401(k)? Can I access that money at any time?

You cannot take a cash 401(k) withdrawal while you are currently working for the employer that sponsors the 401(k) unless you have a major hardship. That being said, you can cash out your 401(k) before age 59 ½ without paying the 10 percent penalty if:

1. You become completely and permanently disabled
2. You incur medical expenses that exceed 7.5 percent of your gross income
3. A court of law orders you to give the funds to your divorced spouse, a child, or a dependent
4. You retire early in the same year you turn 55 or later
5. You are permanently laid off or terminated, you quit, or you retire and have established a payment schedule of regular withdrawals in equal amounts for the rest of your expected natural life.

Additionally, you can cash out your 401(k) and pay the 10 percent penalty if you need funds for certain financial hardships and have no other source of funds. These hardships include:

1. The purchase of your primary home
2. Higher education tuition, room and board, and fees for the next twelve months for you, your spouse, or your dependents or children
3. To prevent eviction from your home or foreclosure on your primary residence
4. Tax-deductible medical expenses that are not reimbursed for you, your spouse, or your dependents
5. Other severe financial hardship

There ya go. Use your housepayment to buy crypto. Then take out a loan against your 401k so you don't get foreclosed on.

 

[OrionsBitch]

Decentralized means more than 1 organization, or group of people control it.

Bitcoin IS decentralized. The transactions are verified by anybody who is mining at any time in any place in the world.

This is the whole appeal of block chain. Nobody control it, and everything is on a public ledger to be looked at and verified if need be.

Cornell Researchers: Bitcoin Not as Decentralized as Assumed - Bitcoin News

One or more people doesn't make it decentralized. Not to mention nobody even knows who created Bitcoin yet you want to put all your faith in it. And then you have people like Charlie Lee who sell their entire stake in their currency and then after the fact announce they don't think it was in the coins best interest to be vested in it. If he truely believed that he would have told people and then sold. But noooooo this guy wanted to cash out on his ponzy scheme. I have some advice for you....stay off Reddit and 4chan and come back to reality. Maybe you should get out of your basement and get some fresh air. You believers make these guys look like superheros through Reddit, Twitter etc and people do nothing more than bandwagon on these claims. Now I'm not saying block chain is a joke. It's a pretty amazing tech. But a lot of these guys are nothing more than modern day Benny Hin's. Block chain will be built and used by big companies like Google and IBM. Or they will buy out small companies.

 

[Faceplanted]

Cornell Researchers: Bitcoin Not as Decentralized as Assumed - Bitcoin News

One or more people doesn't make it decentralized. Not to mention nobody even knows who created Bitcoin yet you want to put all your faith in it. And then you have people like Charlie Lee who sell their entire stake in their currency and then after the fact announce they don't think it was in the coins best interest to be vested in it. If he truely believed that he would have told people and then sold. But noooooo this guy wanted to cash out on his ponzy scheme. I have some advice for you....stay off Reddit and 4chan and come back to reality. Maybe you should get out of your basement and get some fresh air. You believers make these guys look like superheros through Reddit, Twitter etc and people do nothing more than bandwagon on these claims. Now I'm not saying block chain is a joke. It's a pretty amazing tech. But a lot of these guys are nothing more than modern day Benny Hin's. Block chain will be built and used by big companies like Google and IBM. Or they will buy out small companies.

As they say on 4chan

Stay poor

 

[OrionsBitch]

As they say on 4chan

Stay poor

As they say from their parents basement.....yeah they all sound loaded.

 

[Brownslave688]

Dp

 

[OrionsBitch]

Idc if you invest or not. It's a free country. But I would advise against using money you need to do so. You shouldn't out 100% faith in any one asset. Taking money out of a tradition retirement account seems foolish in my mind. What if it all goes south? Youre out of luck and you've lost one of the most important things for investing...."time."

 

[Brownslave688]

If you want to invest in"Block chain technology" then you should be investing in Google, IBM, and other large tech companies that are sniping any decent programmer from all these coin projects....

What is Abra? | An Investment App on the Litecoin Network | CoinCentral



Here is ONE use for ONE coin.

The possibilities are pretty much endless.


IOTA or something like it is going to open the world up to an economy that doesn't even exist at the moment (Machine to machine payments) I know it's going to happen but it's still hard to wrap my head around.

This will change the world as much or more than the internet has. Now the key is who survives.... because 200 coins aren't all going to make it. Which one becomes Amazon and which ones are pets.com

 

[OrionsBitch]

Dp

You make a lot of claims in this. Curious Dr. What is your expertise and credentials to back any of this up. You claimed earlier that I was ignorant on all of this yet you're suggesting a coin is going to turn into pets.com and that is going to be more groundbreaking than the internet itself. LMFAO.......btw the internet is just taking it's baby steps.