Finally liquidated my 401k and SEP IRA

[socrattt]

After months of debating I took a huge step this past week and decided that I have no use for a retirement account in a market like this. Not that I don’t believe in having money set aside for retirement, but I think from a short and long term basis that pulling out that cash, paying the taxes and penalties will leave me in a much better position than trying to bet on stocks and bonds. Of course this cash will be used for some short term investments, so my idea is to actually utilize this money and create short term wealth through various RE avenues.

My adviser actually agreed with a number of my points in respect the markets, so I actually felt comfortable moving forward with my decision. Now some would say that was a bad move, but being in my early 30’s I just don’t see a way of my account becoming a valuable asset when I’m older. I suppose if I was in my 40’s or 50’s my mindset would be completely different.

I had a large amount of assets in these accounts so it was a very big decision for me to make. I am curious to know if any other Piggs out there have liquidated your accounts or thought about it?

[scaredyclassic]

i certainly think it’s a better bet to borrow half of it to put ina house than to put half int he market.

[scaredyclassic]

i certainly think it’s a better bet to borrow half of it to put ina house than to put half int he market.

[scaredyclassic]

i certainly think it’s a better bet to borrow half of it to put ina house than to put half int he market.

[scaredyclassic]

i certainly think it’s a better bet to borrow half of it to put ina house than to put half int he market.

[scaredyclassic]

i certainly think it’s a better bet to borrow half of it to put ina house than to put half int he market.

[mercedes7]

What are you going to invest in?

[mercedes7]

What are you going to invest in?

[mercedes7]

What are you going to invest in?

[mercedes7]

What are you going to invest in?

[mercedes7]

What are you going to invest in?

[outtamojo]

“After months of debating I took a huge step this past week and decided that I have no use for a retirement account in a market like this”

Market like what?

“… paying the taxes and penalties will leave me in a much better position than trying to bet on stocks and bonds”

Huh? Could you have moved to cash/money market and still left it tax sheltered?

“…so my idea is to actually utilize this money and create short term wealth through various RE avenues.”

Didn’t you just tell someone to do themselves a favor and rent or did I misunderstand something?

“I suppose if I was in my 40’s or 50’s my mindset would be completely different. ”

Being in your early 30’s, you’ll be in your 40’s in the blink of an eye.

[outtamojo]

“After months of debating I took a huge step this past week and decided that I have no use for a retirement account in a market like this”

Market like what?

“… paying the taxes and penalties will leave me in a much better position than trying to bet on stocks and bonds”

Huh? Could you have moved to cash/money market and still left it tax sheltered?

“…so my idea is to actually utilize this money and create short term wealth through various RE avenues.”

Didn’t you just tell someone to do themselves a favor and rent or did I misunderstand something?

“I suppose if I was in my 40’s or 50’s my mindset would be completely different. ”

Being in your early 30’s, you’ll be in your 40’s in the blink of an eye.

[outtamojo]

“After months of debating I took a huge step this past week and decided that I have no use for a retirement account in a market like this”

Market like what?

“… paying the taxes and penalties will leave me in a much better position than trying to bet on stocks and bonds”

Huh? Could you have moved to cash/money market and still left it tax sheltered?

“…so my idea is to actually utilize this money and create short term wealth through various RE avenues.”

Didn’t you just tell someone to do themselves a favor and rent or did I misunderstand something?

“I suppose if I was in my 40’s or 50’s my mindset would be completely different. ”

Being in your early 30’s, you’ll be in your 40’s in the blink of an eye.

[outtamojo]

“After months of debating I took a huge step this past week and decided that I have no use for a retirement account in a market like this”

Market like what?

“… paying the taxes and penalties will leave me in a much better position than trying to bet on stocks and bonds”

Huh? Could you have moved to cash/money market and still left it tax sheltered?

“…so my idea is to actually utilize this money and create short term wealth through various RE avenues.”

Didn’t you just tell someone to do themselves a favor and rent or did I misunderstand something?

“I suppose if I was in my 40’s or 50’s my mindset would be completely different. ”

Being in your early 30’s, you’ll be in your 40’s in the blink of an eye.

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