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Re: Anyone taking the 10% penalty and cashing out 401k or …

Home Forums DISCUSS General Discussion and Questions Anyone taking the 10% penalty and cashing out 401k or IRA? Re: Anyone taking the 10% penalty and cashing out 401k or …

  • Fri, Jun 25, 2010 - 06:49pm

    #102
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

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    Re: Anyone taking the 10% penalty and cashing out 401k or …

Big Baby,

 

I did just that about 3 years ago and have never looked back.  IMO the10% “penalty” is a small price to pay for the peace of mind you might gain.

It has also freed up capital to in vest in PM’s, solar, generator, pay off all debt, insulate, and food and water storage plus hedge my bet by putting away some cash.  Any penalty I paid was more than offset by the increase in present PM pricing alone.  My wife and I sleep much better at night knowing we have potenially created a “safe haven” for our adult children and grandchidren.  I did structure my IRA liquidation to a tax year in which I purposefully earned less.

I would say bottom line: follow your instincts.