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I have not read all the other post but IMO you are woefully behind in retirement savings and you should NOT raid your 401k. Pick up a second job and save 10K and then move.
OP, is there a reason you are so reluctant to take a second job? It's been suggested several times, yet you've not addressed it at all. A second job would help you if you saved all that income just for your move. Instead of being stuck for 1-2 years then, you may only be stuck for 9 months. Why are you so resistant?
OP, is there a reason you are so reluctant to take a second job? It's been suggested several times, yet you've not addressed it at all. A second job would help you if you saved all that income just for your move. Instead of being stuck for 1-2 years then, you may only be stuck for 9 months. Why are you so resistant?
Hes resistant because he wants us to sprinkle him with magic fairy dust and make his mental anguish all go away, and use a star trek site to site transporter to move him to a new area...where he thinks he will be *magically* "happy".
He is NOT willing to do the WORK needed to make it happen.
Hed rather wallow in his selfpity than get the job done.
In short, hes lazy and wants a lazy way out.
Life doesn't work that way, but he wont see that or hear of it.
So I went ahead and took out a fixed-rate personal loan and have used it to pay down two of my most expensive credit cards with a couple grand left over. As long as I don't have any huge unexpected expenses between now and October, I should be able to make this work without touching my 401k.
I'm currently 33 and have been at my job for seven years. My 401k is currently worth about $14,000 (probably a bit less after today's stock market performance). I can cash it out and get about $9,000 immediately after the taxes and fees.
The reason I am considering doing this is I made a series of terrible life and financial decisions several years ago that trapped me living in Oklahoma, where I absolutely do NOT want to be. I'm beyond miserable living here and am looking for a way out. It's really to the point I'm considering selling my furniture and packing just what I can into my car to get out.
You couldn't possibly have made any worse financial decisions in the past that would even hold a candle to the terrible decision you are considering. There will never be a situation so dire as to even consider touching your 401k money, you DO NOT touch that money for ANY reason, forget it.
Forget it, that money doesn't exist. You think you feel badly now about past decisions, that is nothing to how you will feel when retirement time comes if you tap into that account. Your 401K is NOT an emergency fund, it's designed to put food on your table when you retire. At 33 years old you think you have forever to make it up, believe me the next 30 years are going to fly by, it doesn't take any time at all to grow old. There isn't a financial advisor in the world who would recommend touching that account for any reason. Please, for your sake, don't ever give such a stupid idea another thought.
Don't make a mistake you will regret. Touching your 401K will be the biggest regret of your life.
You couldn't possibly have made any worse financial decisions in the past that would even hold a candle to the terrible decision you are considering. There will never be a situation so dire as to even consider touching your 401k money, you DO NOT touch that money for ANY reason, forget it.
Forget it, that money doesn't exist. You think you feel badly now about past decisions, that is nothing to how you will feel when retirement time comes if you tap into that account. Your 401K is NOT an emergency fund, it's designed to put food on your table when you retire. At 33 years old you think you have forever to make it up, believe me the next 30 years are going to fly by, it doesn't take any time at all to grow old. There isn't a financial advisor in the world who would recommend touching that account for any reason. Please, for your sake, don't ever give such a stupid idea another thought.
Don't make a mistake you will regret. Touching your 401K will be the biggest regret of your life.
I doubt it would be a bigger regret than having moved back to Oklahoma and getting myself trapped at age 26. But I agree, if I was to cash it out I'd probably severely regret it when I get to 60. Then again, who knows what things will be like then. It might be worth it to look back over a life lived vs one wasted.
Not going to cash out my 401k though. There are other ways to get out of this rut I'm in but it might mean staying in it for longer. I made my choice and in real life, there's no get out of jail free cards.
So I went ahead and took out a fixed-rate personal loan and have used it to pay down two of my most expensive credit cards with a couple grand left over. As long as I don't have any huge unexpected expenses between now and October, I should be able to make this work without touching my 401k.
That's wonderful. Please keep us apprised of your progress.
So I went ahead and took out a fixed-rate personal loan and have used it to pay down two of my most expensive credit cards with a couple grand left over. As long as I don't have any huge unexpected expenses between now and October, I should be able to make this work without touching my 401k.
Borrowing from Peter to pay Paul and then not pay all of it off. Back to square one? By October which seems to have some attraction the 'couple grand left over' will be gone, the credit cards not paid off and the loan payments will force you to live in misery in OK.
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