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Lakukan INI Daripada Meminjam dari 401(k) Anda

The Ramsey Show Highlights 56 views

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A lot of students loan debt was forgiven my wife had 120000 that was forgiven stop lying to people Dave not everyone but a lot of people
Comment from : @GUARDIANONE-e5r

I'm disappointed the title is "borrowing from your 401(k) but all that was discussed was cashing it out Those are very different
Comment from : @austinkoster646

It wasn’t false that Biden would forgive debt, he did, it was Republican morons that cancelled it
Comment from : @RyanS-m6u

401Ks keep YOUR money hostage It’s your money You’re penalized for using YOUR money Meanwhile, others are getting rich off YOUR money
Comment from : @miketheyunggod2534

It is not like borrowing money at 30 It's a one time fee That loan, paying it for the next 10 years, even at as little as 5 interest is probably about a 40 rate over time, truck l which is the comparable number
Comment from : @JasonGroom

I respect Dave a lot but he also piss me off when he talk about paying off debt based on income before taxes
Comment from : @karimelmoutawakil7295

So he has been out of college for 10 years and he only makes 56,000 a year
Comment from : @DecimateTheGamer

10 penalty is off set by dividends and gains Thats how I see it
Comment from : @NeoAndersonReloaded

Consistency is key! It’s really difficult to focus and keep this intensity up, esp when you’re in the thick of it Willpower 101 If this guy clears his loan and medical bill, I can honestly say (from experience) he will set himself up for life It’s hard but yes it can be done
Comment from : @Red_1976

Might even apply for charity care to get medical bill reduced
Comment from : @jacksycz

Get out now! The market is crashing! Run for the hills! Hahaha
Comment from : @bellmattwebb

Republicans and student loans…
Comment from : @netizen_a

Wb a company i no longer work for?
Comment from : @sohd2283

Wouldn't the 401k funds after penalty be added to his other income? He's not going to pay 30 on that alone
Comment from : @randy944

Even if you aren’t a Dave die hard, no reason to do this whatsoever Cashing out the 401k and paying penalties is an absolute last resort Paying a big penalty to pay off low interest student loans is even stupiderbrbrJust pay it off Pay it off fast by having no life if you want to be a Ramsey person or just pay it off in like 6-10 years if you don’t want to Or just make minimum payments forever if it’s below 4 interest In a few years, the minimum payment will be peanuts anyway Whatever you want, I don’t care But just pay it
Comment from : @adamseidel9780

Hey man if you're reading this you should be at least making 80 k or easily even more to 100 k Please look in to it They are under paying you
Comment from : @SolidTrades

Come one Dave who REALLY pays 20 on your gross in taxes?? But he is right in the 10 penalty tax, i would say most ppl pay at most 15 i say the norm is 10
Comment from : @Aztec_warrior-V1

The problem with Dave's theory at 35 interest is it is a one time fee vs if it take 6 years to get out at 8 may end up being a similar dollar amount lost to interest or plentily I do agree with Dave to never take out a 401k unless it is an absolute emergency It's a 401 k retirement plan not a 401 k fun/pay off debt plan This guy should not take out his 401k
Comment from : @ehderguyyashootadeerorno2313

What about cashing out roth money to pay down debt?
Comment from : @captainkrunch6372

I have a $700 (it was $1200) debt that i owe my mom and it's choking me up that i want to clear out by next year U don't know how crazy I'd become if i had thousands and thousands of debt
Comment from : @Tashas_Travels

Another unrealistic goal, 56k a year GROSS not net so he may bring in 40 and they say pay 30 a year is this dude just got to not pay any bills or is that fine to them
Comment from : @xsgtxbigboy1655

Misleading title You can borrow against 401k much cheaper than cashing it out If you have a high interest rate debt or multiple… it’s very likely a good idea to borrow at a lower rate to pay off a higher interest note Prove me wrong
Comment from : @DigDeeperNetwork

Store up in your barn houses … That’s biblical
Comment from : @TruthTalks997

✝️🙏
Comment from : @lukeharris2622

Just from the title of this video we knew what the answer was gonna be 🤣🤣
Comment from : @betitos11

You deserve to do good dont cut yourself short
Comment from : @Matt-kd8cf

Always cash out
Comment from : @Mam-ur1

That number before extra money is lower than my threshold Walking a little taller today
Comment from : @joeriveracomedy

Get the extra jobs, and make it happen ASAP!
Comment from : @leeowens1598

Wait, was the thing he said to do instead is just work 2-3 more jobs?
Comment from : @SovereignMoney

Live like you're a broke college kid for 1-2 years Since he's single, it's entirely possible Just keep expenses low, put all extra money each month into the loan and it'll be done
Comment from : @MillionaireHouseholdFinance

I’m sure he can pick up some OT in the emergency room
Comment from : @tonytoni1150

Comment
Comment from : @DRGWK4

This was my same exact situation right out of college: 60k/year, 60k in loans, paid them off in 3 years Totally doable
Comment from : @juanrocha8544

As an IT professional, it's not that easy to just get side gigs like that
Comment from : @rleonekc07

Dave, I love you but people like you are the ones who killed the possibility of the government stepping into assist people who had too much loan debt Agree with it or not, it wasn't some forgone conclusion that it was not going to work out It was people of your ideology that stepped into stop it It wasn't dysfunctional government
Comment from : @bageland2000

More great advice from Dave Don't keep drbt around like a pet This guy can do it and he'll be a millionaire
Comment from : @jimroscovius

Don't you still have to pay taxes when you cash out 401k when you're retired?
Comment from : @TheFinanceZone

Thanks for keeping us financially educated ♥️ I'm favoured, regardless of how bad it gets on the economy, I still make $27,000 every single week
Comment from : @AbhilashChandran-sx3cb

I knew a guy at work who borrowed from his 401 all the time, after awhile he quit and never heard from him
Comment from : @hubster4477

Go crazy and pay it off ASAP No other debt, that's great
Comment from : @blackphillygal

Live Laugh Love
Comment from : @DillDough4u

Dave only says don't use 401K because if everyone pulls out of the market HIS net worth goes down Thank about it, folks!
Comment from : @rnt45t1

Borrowing vs cashing out a 401k are 2 completely different things
Comment from : @nicholasnaranjo93

I don't even like to hear stuff like this ANY financial advisor would tell you the last thing you want to do it to do this Hell, I worked with a lot of people who would borrow against it and they'd pay themselves back with interest, as our company had it set up that way, and I still hated to see it People see a large dollar amount sitting there and if they have money issues and are NOT good with money, it's like a carrot on a stick I'm glad Dave gave this advice
Comment from : @dyates6380

Never cash out retirement
Comment from : @jimmymcgill6778

This guy is in a great position - no car payment, he's single, so he doesn't have to negotiate the debt payoff with a spouse He can definitely do this!
Comment from : @linuxsurfer2002

Stay single Don't marry another student loan with blue hair and a unbelievable sense of entitlement
Comment from : @djpuplex

Bidenomics screwed America with false hopes
Comment from : @mrlionfishing

That 401K will be completely worthless by the time you are 65 Take the money while it still buys something
Comment from : @RusskiCommieBot

0:50 Love Dave but it always puzzles me why folks compare a flat fee or return number against a rate One is time dependent The other isn't So no it's not like "borrowing money at a 40 interest rate" They just both happen to be numbers that involve a percentage For somebody that is a "math nerd" Dave and others do that a lot
Comment from : @tannerdrake