Joe
Club Member
x2 Certainly not a reason I would ever cash/withdrawal from a 401K.
Cashing Out 401k?
- Thread starter benk
- Start date
x2 Certainly not a reason I would ever cash/withdrawal from a 401K.
Truckblock
Club Member
BS!
So, how do you exactly pay for your house when a person moves out of there parents house?
I certainly did not have cash to pay for my any of my houses, and will not live in a cardboard box.
A person must set a goal to pay off early and not re-fi every 2 years to buy more toys.
I will have a great retirement and have financed everything, but have done this conservativley. All of my stuff will be free and clear when I retire!
I am not worried about retirement when it comes to housing costs, vehicles or vacations, just the never ending Health Care costs that insurance and the government does not cover.
silent E
Club Member
first of all- congrats, Ben!
Any woman worth her salt as a wife would slap you for suggesting that you cash out even part of your 401 for a ring/wedding. Your heart is in a good place, and its a nice gesture to be generous about the ring, but really think things over. We're still young, but now's the time to be contributing as much as you can to ALL retirement options, simply because of the interest. Seriously, read up on this and please look for another option. Living below your means in your 20s is the best gift you could give you, your wife, and any potential kids (or potential car projects). A ring is a depreciating asset, no matter what the industry wants you to think. Maybe look at craigslist or a pawn shop? I hear there are absolute steals right now, because 99% of the time, you cannot get back the money you pay for a new diamond/setting.
Also, have you had any type of conversation with her about it? Maybe she doesn't want a diamond. Are you planning on talking to her mom/dad/grandma whoever raised her? Some women come along with an heirloom.
I know the ring seems important to women, but tbh I asked for a hose clamp. I would try them on at shops and Greg would : facepalm : and drag me away from them. When its the right person, the 'stuff' doesn't matter as much. Just keep that in mind if you do talk to her first. Best of luck, and please buy what you can pay cash for (or 0% finance, I didn't know you could do that). Its just not important enough to seriously stretch money for.
Any woman worth her salt as a wife would slap you for suggesting that you cash out even part of your 401 for a ring/wedding. Your heart is in a good place, and its a nice gesture to be generous about the ring, but really think things over. We're still young, but now's the time to be contributing as much as you can to ALL retirement options, simply because of the interest. Seriously, read up on this and please look for another option. Living below your means in your 20s is the best gift you could give you, your wife, and any potential kids (or potential car projects). A ring is a depreciating asset, no matter what the industry wants you to think. Maybe look at craigslist or a pawn shop? I hear there are absolute steals right now, because 99% of the time, you cannot get back the money you pay for a new diamond/setting.
Also, have you had any type of conversation with her about it? Maybe she doesn't want a diamond. Are you planning on talking to her mom/dad/grandma whoever raised her? Some women come along with an heirloom.
I know the ring seems important to women, but tbh I asked for a hose clamp. I would try them on at shops and Greg would : facepalm : and drag me away from them. When its the right person, the 'stuff' doesn't matter as much. Just keep that in mind if you do talk to her first. Best of luck, and please buy what you can pay cash for (or 0% finance, I didn't know you could do that). Its just not important enough to seriously stretch money for.
benk
Club Member
Thanks Em! Lauren is pretty much against me spending any money on anything. :lol: I've decided against taking anything away from the 401k, although I might borrow from it, depending on what the HR lady at work says. Her mom is graciously donating the stone, so all I am on the hook for is the setting. I've talked to both of her parents, and they both have given me the approval, which I was surprised at how approving her father was. Lauren knows I plan on proposing, she just doesn't know when or how and said whether I like it or not, she's marrying me. She said she'd be happy with a piece of string, but you know me, always trying to give people more than they expect lol.