Home page

Should I Cash Out My 401K to Pay For a Car?

Frames Should I Cash Out My 401K to Pay For a Car?

Description Should I Cash Out My 401K to Pay For a Car?

Comments Should I Cash Out My 401K to Pay For a Car?

2k car??? What in the world can you get for that, a Craigslist 2000 Ford Focus with 150k miles? The new breaks, tires, radiator, etc will cost you another $1,000+ I think Dave is a bit out of touch Comment from : ArabellaCharm

Retirement is not an end, but a new beginningYour dedication today will pave the way for a future filled with financial security and the freedom to pursue your passionsBig ups to everyone working effortlessly trying to earn a living while building wealth I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts Currently living smart and frugal with our money Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income Comment from : Harper Levi

I resonated with what the lady said about raising prices and expecting better I am a seamstress, with a certificate I studied for and everything I sew several hours a week I don’t want my business to grow too much, because I’m looking into a career that makes more per hour and doesn’t make my shoulders tight But it is working for now while I study brbrAnyhow, I raised my prices in January I had been charging $20/hour (in a market where minimum wage is just upwards of $14/hr) I went to $24/hr and raised all my standard prices (like hemming jeans, replacing zippers, etc) to match I have only had one customer ask for a discount (which I gave her in exchange for a good review on Google), and a couple more have complained about the prices, but I haven’t had any unhappy customers I deliver what I promise, and I am getting almost as many word of mouth referrals as I get google search calls Comment from : Lisa Reynoso

“No pun intended” Come on, Dave! You should always intend your puns You could learn something from George Kamel’s channel about this Comment from : Lisa Reynoso

You guys are great!!!! Comment from : Flakizz

Nonsense 2000 dollar car doesn’t exist, more like 4500 at least Dave is a living in the 80s Comment from : Average Investor

Dave hasn't addressed her pronoun issue She says she's married but is just saying "me, my, I" Comment from : RANDOM Name

Ah yes…brThe, is cashing out my 401k to buy something stupid a good ideabrShort answer: NO Comment from : J Smith

My dearsell the truck Thank you! Comment from : Mike Sawyer

I havent seen a car for sale priced at $1k - $2k in looong time Where do these cars exist Dave 🤔 Comment from : Alberto G

I never clicked on a video so quick Comment from : Tim Ewing

Dave’s face when she talks 😂 Comment from : fef619

Dayum, they are really broke Plus this lady's brain is scrambled Selling oranges on the side of the road can earn more than 800 bucks a monthbrbrSHE can't answer a question Comment from : Drool Alot

Sell truck and get HOOPTIEbrbrOR start operation sugar daddy Comment from : Drool Alot

Are there no better questions out there? I would like to hear some actual interesting questions Comment from : K Jensen

No Comment from : CyTheFox

Plot twist: The handyman that makes $300k year also has a Grandma who gave them $100k to put into the marketing brbrDave should not be saying people are making $300k a year in being a handyman The books mean everything to a company He needs to elaborate on this business model he is referring too Comment from : Chris Lane Jones

$300k a year for a handyman job No way They use the term "handyman" for someone that gets paid a low wage and needs to find a niche They need to have proof of these people making this much money and not just yacking about it Comment from : Chris Lane Jones

Sounds like both of them need better jobs Comment from : Garrett Messer

Dave: brSell the beans and rice Comment from : BLAZE

Yes sell that car and buy a 2000 car Comment from : B Strong49

You know, she's never going to be wealthy, so she might as well be in debt and enjoy that nice new financed truck Comment from : Percival Googlyeyes

I thought we were pass the point of looking for permission from Dave to withdraw from retirement This is why Dave is a millionaire and why he will accumulate more wealth Always Always some people out there who do or try to do things easy way rather than the hard way You can run into debt but it’s a slow walk out Comment from : Zealand

So true hard to get contractors/handyman to just show up 🆙 & do good work!!! Comment from : Monica D Henderson

HEY IM FROM WARNER ROBINS GA Comment from : ae4xo

THIS is the reason why most people are in debt and unable to retire later in life Comment from : Frank S

Don't call into Dave Ramsey when you don't even have your figures straight and don't even know the KBB value of your vehicle is🤦🏻‍♂️Despicable Comment from : radfoo72

She could easily take a 401k loan (actual loan from yourself) and avoid taxes and penalties Borrowing $2000 for 401k loan is next to nothing in terms of how long you need to pay it back Comment from : jaren Garnett

I owe $19k on a truckmy husband makes $24K and I make $7k per yearsmh it is crazy to think most Americans are financially killing themselves to have a new shiny car in the driveway They have no savings, college fund or retirement but are making $600/ month truck payments and can't figure out why they are paycheck to paycheck Comment from : David

its actually only 10 She would be paying taxes on that money whenever she withdrew it, now or thirty years from now She would lose out on growth but Dave always says 30 and he is wrong Comment from : matt dillon

She’s struggling right now but she seems like she’s doing good, watch, 1yr she’s going to be making 1/2 million dollars Keep it up, you will make it Comment from : Yummy food

If you stop talking and listen, Dave will make your life so much easier! Comment from : Rodney Evans

I love how they know the answer, but they still ask the stupid question Comment from : Rodney Evans

Cash out your retirement for a car?! Use your head If you have to ask, you know it’s a bad idea Do you listen to this show or are you just “hearing without listening?” Comment from : Jay Edney

Dave, do a video of buying a 2k car Show me the vehicles you would buy online I wanna see thatbrbrPretend you broke and u need a car and have only 2k in cash Show me these vehicles in your area dave Comment from : Daniel Garcia

Stupidest Question Ever!! Comment from : Jim Roscovius

Is Christy’s Business Boutique for women only? I’m really interested in the conference and any insight she could bring for small businesses Comment from : Esteban Henriquez

Christy Wright is cute Comment from : inertiaforce

I'm still trying to understand what made them think they could afford this truck only making 30k a year What was going through their minds when they were at that dealership??? Did they even check their budget at all before making their decision???? Comment from : Blackbond11

No $2000 cars out there But wow 31k a year total income?? Comment from : Patrick Childs

These two make jack 💩 and have a $19k truck and have $13k in a 401k 🤦 Comment from : K Roddy

Caller: I know this is bad idea But can I still do it in my scenario?brDave: What do you think genius? Comment from : Juan Soriano

How can people this dumb even function?? I don't get it Comment from : Alexandru

Dave: the NUMBERS, lady Stop talking and just give me the NUMBERS Comment from : Heather Moore

401k is a Canadian highway , how is a Canadian highway gona help someone with money ? Comment from : rayn1ful

Here in central Florida, the maid business is booming Companies even hire maids to clean their businesses I would know I was one of those hired to clean them Comment from : It’s Me, David D

What’s with these people with their truck and they can’t afford it? Comment from : Hello Hi

These people need to stop talking over Dave and whoever is hosting with him 😂 no matter what the extra seasoning you throw on the plate is, it doesn’t matter as long as Dave knows the meat and potatoes of the situation lol Comment from : JayReiz

Kelly, don't cash out 401k Bad financial tactic Comment from : C Ju

A two thousand dollar car is a money pit I guarantee you, you purchase a two thousand dollar car and you are gonna put $2K-$3K into it Plus, no modern safety features That makes it a death trap Dave is a fool Comment from : MikeTheYungGod

Go to Vegas let it all ride in one hand of blackjack Boom Problem solved Comment from : Midlife crisis

What about an inherited IRA? I can't roll that over anywhere and have to withdraw it within 10 years Comment from : Themetnut

$2K dollar car???????? Do they exist today????? Comment from : john Smith

And she is in the 12 tax bracket plus a 10 penalty now that tax would have yo be paid anyway so she is borrowing at 10 interest let’s be real here Comment from : TheMechanicj

Another PICKUP TRUCK story hint hint Why is it that stupid people buy trucks? Comment from : john Smith

I’d sell that truck ASAP Comment from : Cu H

Just SHUTUP and listen! Drives me absolutely insane lol Comment from : Landon Jones

how did they qualify for this car smh Comment from : shola

Stop telling people the cleaning business is easy and you make alot of money It's hard work and more to it than you think I make good money but between scheduling, keeping records, paying taxes, insurance and supplies, keeping everyone happy is exhausting!!! Comment from : Machelle King

Dave, you’ve been asked this question before and I know the answer but I am going to ask anyway Comment from : patty109109

I would never withdraw from a retirement account to pay off debt because once you do it, you're more likely to do it again (and again) in the future It's better to punish yourself for getting into debt by reducing your lifestyle than using a workaround Comment from : gmc9753

I am not american but is 2k dollar car really possible? Comment from : Fury 2k

When I saw this, I immediately thought of Homer Simpson and the Canyonero Comment from : Melissa0774

when it seems like everyone is driving a nice truck, just remember most of them are fools and it's all debt Comment from : Patiomcl

Dave speaks from rightly earned wisdom and experience!!!! Comment from : JBlue

Quite simple…do the baby steps since they work! Has none of these callers read Dave’s book? Comment from : Scott Salyer

Read the the title and I was like "CAR??????????? DOES THAT SAY CAR????????" 🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️ NOOOOOOOOOOOOOOO! Comment from : BajanBrit🇧🇧

The worst part is that ppl buy trucks but dont even use them for their intended purpose Only for compensating Comment from : Samy Samy

Uhh no Comment from : Mark Plymale

The title is wild! Comment from : Island Fist

It takes nine minutes to say "ARE YOU OUT OF YOUR FREAKING MIND"?!!!brHurting for content Comment from : Siegfried Braun

This is one you clicked on just to see if Dave rants Admit it Lol Comment from : WT K

Yo you gotta act like the 401k and IRA isn’t there people Comment from : Hot4 Teacherz

I just Knew this time ,,Dave was going to say ' Go Ahead ' and do your plan automobiles are a great financial investment---- Comment from : keeping it real

Short answer: no Comment from : Mister R YouTuby

Whenever I’m facing a tough finical decision in my life I always seek out the wise wisdom of Casey the Spammer to help get me on the right path Comment from : Jim Smith

Should I put a gun to my head and pull the trigger to get rid of a headache? Comment from : Black Screen

You may, only if it’s a 1963 Ferrari 250 GTO, otherwise, get a second job Comment from : C C

Couldn't she pull out her contributions to the 401K penalty free? Or does that only apply to a Roth IRA Comment from : joshua irwin

We just want it to be over with Time and persistence my friend Comment from : Casey Burns

Sell the truck Comment from : Queen Kristal

That's one expensive debt free scream Comment from : Paul

If she buys a 2000 dollar car I hope one of them has some mad automotive skills The biggest problem seems to be income Comment from : Ripvanwinkle

In 2021 everything is reversed Cars appreciate, 401k depreciate I’d say if you don’t care about the future you buy a stupid car Comment from : J Smith

bClicks to see if he goes to town or not/b Comment from : JozParks

I haven’t watched the video and the answer is NO!!!! Comment from : Devo 68

😁👌👍🖖✌😎 Comment from : john mirbach

What’s the point of even taking these calls? Everybody already knows the answer Comment from : Tom Orr

Only if it is a Tesla Comment from : untouchable360x

I know I shouldn't do this but should I do this? Comment from : Froggore

Cash out an appreciating asset for a depreciating asset? Bad plan… Comment from : JM0NEY

Related Should I Cash Out My 401K to Pay For a Car? videos

Get The Money Out Of Your 401k ASAP || Should you leave your money in your 401k or move it to an IRA РѕС‚ : Everything They Never Told You Download Full Episodes | The Most Watched videos of all time

Avoid Losing 30% of Your Money with THIS - 401k Withdrawal Penalty - Cashing Out 401k Early РѕС‚ : Vanilla Breyer - The Scoop on Finances Download Full Episodes | The Most Watched videos of all time

Self Car Wash Service in Canada in just 7 $| IN and OUT Car Detailing | 7$ in shining car out РѕС‚ : THE DIY SINGH Download Full Episodes | The Most Watched videos of all time

Should You Cash Out Your 401k to Buy Real Estate? РѕС‚ : Redacted Download Full Episodes | The Most Watched videos of all time

Should You Sell Your 401K Or Cash Out Retirement Funds Before The Real Estate u0026 Stock Market Crash РѕС‚ : The Economic Ninja Download Full Episodes | The Most Watched videos of all time

Your 401k – How do you use it? What are the 401k withdrawal rules? РѕС‚ : Sierens Financial Group Download Full Episodes | The Most Watched videos of all time

Cashing out of 401k to Pay Off Debt РѕС‚ : Financial Issues Download Full Episodes | The Most Watched videos of all time

Can You Take Money Out of your 401k? Taking Money Out of 4O1k РѕС‚ : retiresharp Download Full Episodes | The Most Watched videos of all time

Should I Withdraw from My 401k to Pay Off Debt? [The Answer Might Surprise You] РѕС‚ : Stop Being Sold® Media Download Full Episodes | The Most Watched videos of all time

Should I Use 401k Money To Pay Off Debt And Buy A Home? РѕС‚ : The Ramsey Show Highlights Download Full Episodes | The Most Watched videos of all time