Quote:
Originally Posted by windinthewillow
Monet. Are you sure you want to do that? You lose nothing if you ride it out. You'll be selling at a loss and you'll have to pay taxes.
You should never touch your 401k ever, until retirement. Not even to borrow from it. If stocks are making you squeemish, transfer your 401k into cash. But keep it in the 401k.
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Thanks for your concern and I spoke to my advisor, he feels like you. NOT ALL my retirement accounts will be cashed. Only 2 of them. The rest are rolling over. And one of the 2, I'm cashing in will be rolled over into my IRA and Roths.
Yeah, I'm taking a hit. But, I've got expenses that MUST be paid & I have started my own business. I also have a talk with my tax CPA's where I have a "quasi-justification" for cashing my funds... Yes, it sucks, welp, we have to do what we have to do.