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How to Cash Out 401K Early (without penalty)

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Title :  How to Cash Out 401K Early (without penalty)
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Epic Real Estate Investing
🔥I just finished up a new report on much of what we’re up against when it comes to our financial futures and how to save yours, if you’d like a copy… I made it really easy and uploaded it for you here 👉 EpicFreedoomBookcom 🔥
Comment from : Epic Real Estate Investing

Thank you for the calculation I will never have an employer match for 401K (based on my current field), I'm trying to retire early so money when I'm 60 is relatively useless, I'm thinking just avoid the 401k or any retirement accounts altogether
Comment from : Hazy

N Grubbs
Gotta pay Uncle Sam anyway And 10 is a small price to pay to gain freedom from my toxic workplace I’m doing it…under 55-595
Comment from : N Grubbs

55 rule also applies to those who are at that age borderno 10 penalty if your employer offers that benifit!
Comment from : LSG1958

zee Unveil
Considering of cashing out my 401k to pay for my college education, Would you advise this or a different route?
Comment from : zee Unveil

It's funny how EVERY single video like this one has all the same sh*t repeated over and over and over and over about "real estate investing"brbrSo, basically, buying up single family homes, hoarding wealth by extracting wealth from the middle class through rents, and leaving a BS housing market like we currently have where inventory is lower than demand AwesomebrbrCongrats, you're nothing but a greedy parasitic POS on a nation's economy, doing nothing but ripping off your fellow citizens Why not cash out your 401k and invest in startups? Biz ventures needing capital? You know, things that actually make an economy turn
Comment from : Pens4Life

$100k house purchase? where? El Salvador?brbrFucking dipshit
Comment from : Pens4Life

Where tf you finding 100k dollar houses?!
Comment from : richardvg03

Notnelc8 Quil
I’m 595 yrs old and have $190 k How much will they take out A 401 rep told me they will get 20 up front plus I will pay when o file my income tax Is that right?
Comment from : Notnelc8 Quil

King Taco
Just cash out and go all in On the Dodgersbr🚀🚀🚀
Comment from : King Taco

Best explanation I have watched
Comment from : ranman

Shonda W
Very helpful!
Comment from : Shonda W

Robert Simpkins
It makes no sense having all your money locked up until 59 I plan on being one tax bracket lower when I retire so I’d only be losing the 10-12 now I’m going to take out enough to finish paying off my current house I can then modify my HELOC for the full 90 LTV Saving with no mortgage and investing the HELOC in the stock market I’ll should be able to put down at least half on my next home in just a few years brbrI’ll have have a super low mortgage, 2 HELOCs invested and getting rental income from my first place brbrCashing some of that 401k out can definitely improve your cash flow today and give you more time in the game
Comment from : Robert Simpkins

Well real friggin interesting argument I agree with
Comment from : EG

I have 300 bucks on my 401k
Comment from : xXBig_LXx

T Ho
Where can you find homes for $100K that will appreciate to $600K I call BS on that statistic
Comment from : T Ho

king kong
Soooo ummm where can u find a fucking house for 100k these days???? Sounds good if it was 1998
Comment from : king kong

Illidan Stormrage
Either you're a demon or a darn foolbrYou're talking Bullshit, like if recovery makes the lost void,brLike if federal reserve notes are money,brLike if you know what the fuck you're talkingbrGo to article 15 , read it, rehearse it all you can until you can property articulate about the subjectbrThen comeback here brThank you for the misinformation
Comment from : Illidan Stormrage

I am pretty sure a law was passed this year to withdraw your 401k without penalty at the start of the pandemic Not sure if that is still active
Comment from : A C

Rachael F
I would like to cash out my 401k plan now but not sure how or if I can I'm no longer with the company but it was under a defined benefit pension plan I was employed with them for nearly 14 years
Comment from : Rachael F

KnowledgeForHealth TV
Question: Can i take my money out of my 401k while I'm currently employed
Comment from : KnowledgeForHealth TV

Wonka Vision 4k
great video! the math finally makes sense to back up what i was thinking about opportunity cost! Very impressive break down
Comment from : Wonka Vision 4k

You should have covered the taxes you still have to pay after age 59 1/2 People use taxes as a reason not to withdraw, but you never avoid the taxes
Comment from : RedShiftedDollar

Yaya AC
Jimmy any advice I just got laid off after 6 years of working I am 29 and currently have 10,000 on my 401K It gives me option “of full pay off “ ( - fed taxes) = 7,000 But i have credit cards debt of $8,000 and i only have 4 months for unemployment Is killing me, since i had my payments organize: savings, housing, credit cards 😮 My question is should i take out my 401 money, and pay my credit cards How it would affect my Taxes 🙌🏻 thanks
Comment from : Yaya AC

Danielle Sunshine
Thank you!!!! Someone with some real advice
Comment from : Danielle Sunshine

E Post
Just wondering?how do I get $180000 in income from $ 432, 000 ? As mentioned early in the video
Comment from : E Post

Chris Zion
Interesting How about just borrowing from yourself? You can borrow up to $50K from that number and the interest paid goes back to you No withdrawal penalty and no Fed and State taxes, just tax on the interest You still have $50K in your 401K growing, you get the advantages you stated
Comment from : Chris Zion

Leroy Epps
I would like to talk with someone about my 401k can you help me out with that
Comment from : Leroy Epps

Brian Buxton
You really only need to worry about recouping the $10K penalty, which you'll do in less than 2 years in your RE example I say this because you still need to pay those state and federal taxes after 59-1/2 years oldand they would be on the $432K, not the $100Kand taxes will likely never be lower than they are now So, yeah, I agreeand may may not even have to pay the 10 and can spread the taxes out over 3 years during the time of COVID-19
Comment from : Brian Buxton

jesus marias
So if I’m 35 with only 27 tho how much will be lost ?
Comment from : jesus marias

The Scoop
This is exactly the calculation I was looking for I knew that I’d benefit more in the long run but I didn’t have the math to back it up and really make the jump Now with no penalty this year, I am definitely making the move this year Thank you so much for the awesome videos
Comment from : The Scoop

José Eduardo
I have 401k ever since I got my first warehouse job it was like a plan that was setup for me, how do I find out how much I have and who to call and how to take it out because im 24 years old I know wi have a lot since used to earn a lot in that warehouse and I wanna invest for my YouTube channel (not this one) so I need help if anyone can help me out please this could be the biggest break I might ever have honestly
Comment from : José Eduardo

Epic Real Estate Investing (or others): What about rolling your 401k into an IRA, and then investing that in real estate My understanding is that you are allowed to invest in real estate IN an IRA as long as it is an investment property, not your own residencebrAlso, I assume you are talking about a 401k from a job you already left right? You can’t take money out of the 401k at your current job
Comment from : 981porsche

Ruth Ferguson
What about if you want to buy a primary residence and pay for it outright? The way I see it, At the rate we pay for rent now, the so-called penalty for a $100,000 withdrawal is approximately what we would pay in rent over the next 4 years
Comment from : Ruth Ferguson

Robin Romero
the way you wear airpods bugs the hell out of me Everything about it is wrong
Comment from : Robin Romero

Jalen Oluwusi
were the first 20 seconds of this video created on a Motorola Razor Flip Phone? JEEEEEZ
Comment from : Jalen Oluwusi

Jalen Oluwusi
were the first 20 seconds of this video created on a Motorola Razor Flip Phone? JEEEEEZ
Comment from : Jalen Oluwusi

I am 34 already own couple multi family property and i am withdrawing my 401K to invest in more properties He is 100brYou need the cash flow now br401K is if you want to play safe brNot worth it for me
Comment from : DMD

Francisco Vega
Ive been with my company a little over 20 years how much should i take out and what do i roll over and how do i create tax free wealth i plan on retiring at 42
Comment from : Francisco Vega

Bealive it or not all this numbers match with my actual balance in my 401kI'm 42 years old and I Bealive I will consider this option very seriouslythank you very much for the information sr
Comment from : arturokst

Yasharahla k GMS humble work
Ummmm What happens if you have a hardship and you don't have that kind of money Safe is it worth just go ahead and close the 401K Or borrow from it or how many times can you borrow from itand what happens if you lose your home or your apartment and you need that money to find a place to live the money does no good If you get in a real bad pinch and can't useit
Comment from : Yasharahla k GMS humble work

Nick Mack Music
I see some folks speaking on the self directed IRA My current understanding of buying real estate in a self directed IRA is that you miss out on the monthly cash flow Anything above principal has to go back into the IRA So I love this idea of working the (penalty) numbers of my entire investment portfolio to grab cash flow NOW instead of twenty years down the road
Comment from : Nick Mack Music

Hello Thanks for the informative video Question: how does depreciation recapture at sale of property affect the total numbers you presented? Thanks
Comment from : msaltikov

Rental property has a lot of expenses with it as well as laws are favored for tenants so trying to get a bad one out can take months and cost you If you pay a management company, it's not cheap either so figure all this in when comparing things as it's no as rosy as people on youtube want you to believe Background checks and credit checks, etc help but don't really prevent anything if renter loses job or other things happen to cause them to stop paying
Comment from : OnlywenIlaugh

You still didn’t say how to get out 401k penalty or not when it’s through your job you can not cancel and cash all out period
Comment from : milo74156

Most Americans don’t realize when you take out a 401K loan, that money gets taxed, then you pay that money back post tax, the when you retire, it gets taxed again Nice little system you got going there Uncle Sam
Comment from : Nala

K Howard
Rollover 401k to self directed IRA With a self directed IRA you could buy 4 houses using the math in the video and have twice as much money when you retire With a self directed IRA you can invest in real estate or gold, silver, even bitcoin if you want If you expect to be in a higher tax bracket when you retire rollover the 401k into a self directed Roth IRA and pay no tax at all when you retire One thing to consider with a self directed ira is the money the income property makes has to go back into the ira account ( it can be used to buy more houses or invested in almost anyway you see fit used to pay taxes and upkeep on the income property) until you retire and take distributions It is a lot to consider but could be a happy medium between keeping all that $100,000 in a 401k and cashing out and paying the tax and penalty
Comment from : K Howard

dimi prophete
Very Logical
Comment from : dimi prophete

Currelty in this similar situation myself My question is: do i take all out in one lump all at once or do i remove like 10K every month?
Comment from : SJ

kolton crane
There's a whole different option that this video should have presented and that most people don't know about I just learned it myself since they don't teach it even in a masters program It's called self directed IRAs or self directed 401ks brbrPeople could create a company and set up a solo 401k even if ya have to drive for uber once a month to make it legit Then you can roll your 401k to your solo 401k Or you could just roll it into an IRAbrbrBut if you use a solo 401k then you avoid the Unrelated debt financing tax iras get when you leverage propertybrbrMitt Romney has a 100 million ira Imagine the taxes you'd save doing real estate when you don't pay income tax or capital gains brbrThen when you amass your fortune you set up a charitable leader trust (CLT) Transfer your assets to the trust that then pays a charity for ten or twenty years Then the rest can go to a dynasty trust That way you avoid estate, gift, and generational transfer taxes or minimize them using the CLTbrbrNo one ever talks about reducing or avoiding estate taxes People should Look up dynasty trusts that can last 365 years in Nevada and can last forever in South Dakota
Comment from : kolton crane

For the average joe this math makes sense You’re assuming that the person does not put any more money into the 401k plan and no employer match If you add those two factors, let’s say a 3 safe harbor match with a 3 contribution Your average rate of return should be somewhere in the 7-8 at that age So rerun those numbers and the actual figure is closer to $197 million Don’t play with the numbers just to sell and idea or a product You’re using variables bles that you don’t disclose Good try but nah There is a huge difference between $450k and almost 2 million
Comment from : matadorcabos

Aaron Afrifa
What if you're over 59 1/2? What techniques can you do to avoid taxes? Because I'm trying to help my father and want to know if it would be good to take a small amount every year to avoid the bulk taken out once he retires?
Comment from : Aaron Afrifa

this doesn’t explain how to cash out your 401k
Comment from : milo74156

Roth’s account people taxes is already paid !
Comment from : AntiSocial214TEXAS

Key west Alert
This concept seems like a good idea, but for me to get $100k dollars in my 401k will take 15 years or longer and at that point I will be so old! I might not want to take that risk
Comment from : Key west Alert

I’m so confused
Comment from : Melvin925

T John
Disagree with math Assume 8 stock returns not 5 Use 50 rule from bigger pockets and I think $1000 cash flow on 200k in rei is unrealistic Probably half that I'd also use inflation for appreciation rate instead of 546
Comment from : T John

Thang Vo
I had the same thinking and similar analysis done myself; finally got a validator from an expert in the industry that this is not an insane approach Opportunity cost of leaving money in the 401K is much higher than people realize Thanks for the video!
Comment from : Thang Vo

why is their a state tax thats bs
Comment from : chriss4365

Chivo R
Man that should be our fucken money, that's why I say fuck our government and all the bullshit they do to fuck us over
Comment from : Chivo R

Say Says Kitchen
Thank you This is really jumping out at me I am 37 but with about half that in my 401k If I understand correctly I should do the math
Comment from : Say Says Kitchen

Mel Vern
I'm just past 596 Isn't there still a 10 fee for withdrawal for my 401K?
Comment from : Mel Vern

I have stage 4 cancer, can I take out my 401 k without a penalty?
Comment from : global6674

I'm 22 and I only have 2k on it can I cash it I need it to move out
Comment from : Flaqko_GTA

jerome de leon
I've been giving 25 to my 401k, the problem is I'm moving out of the country in 6 months and will need to take the money early Should I stop giving 25? what the ideal should I put into my 401k
Comment from : jerome de leon

Tom Parsons
Great video with awesome detail of different dynamics to consider!
Comment from : Tom Parsons

I am now in my 30's paying attention to the 401k deal Is there a way in which I can view how much I have in that bag and what options I have as in to withdraw and invest elsewhere or anything else? I've been in the military and from job to job after service, so I have no clue to where to start
Comment from : TraderMigs

Jimmy H Financial
Yea, i already cashed out my 401K and put it in real estateoverall better results long term
Comment from : Jimmy H Financial

James Canata
Wow! So much to learn! Amazing info
Comment from : James Canata

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