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? Pay the penalty and INVEST the rest? ? 401K Withdrawals

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Description ? Pay the penalty and INVEST the rest? ? 401K Withdrawals

Comments ? Pay the penalty and INVEST the rest? ? 401K Withdrawals

I have a question I took my 401k money last year it's affecting my tax return this year ? Comment from : @selihnahadley4753

its BS i had an Aunt pass and nobody stepped up and i paid everything right after they cut my hours by 1/2 i was fukd but had to do that for my Aunt that raised me, no ?! tried to take my money from 401k they said “No” i said “ i dont care about penalties or taxes , im gonna lose everything i have “ they said u can take the 5k u rolled from IRA , but u pay it back with interest???? i said what i have to have eviction notices in my hand b4 u can even think of withdraw Comment from : @mypitssmash4804

Poor people debating in the comments Comment from : @jrr3418

1st of all it’s 20 percent penalty than u have to claim the money as income at the end of the year so it’s really like 30 to 40 percent when done Comment from : @richardkimbrel4849

I’m seriously debating this 😢 Comment from : @seancarlstorm

How is a hardship withdrawal for school or house when I can't even feed my family literallyI hate joe biden whole administration Comment from : @beastmasterakathabarbaric1509

Plus taxes and not including it will probably put you on a higher tax bracket so is not only 10 Comment from : @DJSpoe

you also have to pay ordinary taxes on the 100k, so puts you in a higher tax bracket plus the 10 penalty Comment from : @ladyteamer9331

hmm Comment from : @krin5506

If it’s a first time home, you don’t pay a penalty Comment from : @joshuakeith8710

I’m confused what about paying the tax man Comment from : @QUEENSHOLLA13

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