Author Topic: 401k Good Idea for Early Retirement?  (Read 3870 times)

thow

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401k Good Idea for Early Retirement?
« on: June 30, 2015, 08:07:48 AM »
I've been contributing steadily to my 401k plan but have started to question the wisdom of this since getting interested in early retirement.

My understanding is that you can't withdraw money from a 401k until youre 59.5 years old. I don't know when I'll reach my early retirement goal, but I'm hoping it's a long time before I'm 59.5.

My concern is having a big pot of money sitting in my 401k when I retire, but not being able to access it without penalty for 20 years.

Is there some way around this? I've heard of SEPP, but am wondering what the angles are.

dandarc

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Re: 401k Good Idea for Early Retirement?
« Reply #1 on: June 30, 2015, 08:10:47 AM »


RWD

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johnny847

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Re: 401k Good Idea for Early Retirement?
« Reply #4 on: June 30, 2015, 08:44:44 AM »
It must be Tuesday.

Guys can we make a sticky on this topic? This comes up wayyy too many times.

EDIT: Doh! I see we do have a sticky haha

a1smith

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Re: 401k Good Idea for Early Retirement?
« Reply #5 on: June 30, 2015, 08:58:54 AM »
It must be Tuesday.

Guys can we make a sticky on this topic? This comes up wayyy too many times.

EDIT: Doh! I see we do have a sticky haha

Even better, how about a sticky on how to efficiently search the forum with Google?  Faster and better than the native search.  Instead of giving them a fish, teach them how to fish.

To search Investor Alley enter this in Google:
<search term> site:forum.mrmoneymustache.com/investor-alley/

To search a thread in Investor Alley enter this in Google:
<search term> site:forum.mrmoneymustache.com/investor-alley/bogle-projects-'nominal-to-zero'-real-returns-over-the-next-decade/
where text after "alley/" is the thread name.

Not much typing is required either.  To search Investor Alley just go to http://forum.mrmoneymustache.com/investor-alley/ and then click on your address bar.  Press the home key to go to the beginning of the address.  Type in your search term and then site: in front of the address.  You're done.

To search a thread just go to the thread and then do the same thing.  Voila!  No typing of thread names, etc.

Chrome works this way by default.  For IE, you have to make Google your search engine and enable search on address bar.

thow

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Re: 401k Good Idea for Early Retirement?
« Reply #6 on: June 30, 2015, 11:28:15 AM »
Thanks for all the information. Sorry for creating a new thread for such a common topic...

johnny847

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Re: 401k Good Idea for Early Retirement?
« Reply #7 on: June 30, 2015, 11:43:51 AM »
Thanks for all the information. Sorry for creating a new thread for such a common topic...

Sorry if I came off as unwelcoming. We're all here to learn.
I just need to control my frustration better - I see threads like these all the time.

Again, sorry for the less than warm welcome. Welcome to the forums!

thow

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Re: 401k Good Idea for Early Retirement?
« Reply #8 on: June 30, 2015, 03:07:45 PM »
Thanks! No offense taken...

sisto

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Re: 401k Good Idea for Early Retirement?
« Reply #9 on: June 30, 2015, 05:38:27 PM »
It must be Tuesday.

Guys can we make a sticky on this topic? This comes up wayyy too many times.

EDIT: Doh! I see we do have a sticky haha

Even better, how about a sticky on how to efficiently search the forum with Google?  Faster and better than the native search.  Instead of giving them a fish, teach them how to fish.

To search Investor Alley enter this in Google:
<search term> site:forum.mrmoneymustache.com/investor-alley/

To search a thread in Investor Alley enter this in Google:
<search term> site:forum.mrmoneymustache.com/investor-alley/bogle-projects-'nominal-to-zero'-real-returns-over-the-next-decade/
where text after "alley/" is the thread name.

Not much typing is required either.  To search Investor Alley just go to http://forum.mrmoneymustache.com/investor-alley/ and then click on your address bar.  Press the home key to go to the beginning of the address.  Type in your search term and then site: in front of the address.  You're done.

To search a thread just go to the thread and then do the same thing.  Voila!  No typing of thread names, etc.

Chrome works this way by default.  For IE, you have to make Google your search engine and enable search on address bar.

Yes a sticky with this is an excellent idea!

johnny847

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Re: 401k Good Idea for Early Retirement?
« Reply #10 on: June 30, 2015, 05:48:08 PM »
We already have a sticky, as I said above

Sent from my HTC One using Tapatalk


a1smith

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Re: 401k Good Idea for Early Retirement?
« Reply #11 on: June 30, 2015, 08:59:25 PM »
sisto means a search sticky.  I've tried to summarize an easy way above.  There are other people who have posted similar info.  Maybe someone can combine them all into a nice "How to search the forum" sticky.

johnny847

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Re: 401k Good Idea for Early Retirement?
« Reply #12 on: June 30, 2015, 09:00:06 PM »
sisto means a search sticky.  I've tried to summarize an easy way above.  There are other people who have posted similar info.  Maybe someone can combine them all into a nice "How to search the forum" sticky.

Oops my bad.

Sorry sisto