I have the situation where my house is paid off and I have a reasonable amount put away in my 401k and Pension. However my post tax assets are much lower. Iam not yet 59.5, but is is still worth making 401k withdrawals to enhance my lifestyle even if it incurs a penalty ?
The financial folks say you have to be very conservative, but what is the point in having money when you are old and unable to enjoy it ?
Medical bills of course is an issue , but is it still worth being too conservative ?
why it takes so long for you to answer, searching for jobs on internet? i have some work for you, janitor type of work, with very narrow specialization only on toilets. if you ignore now, next time when you are interested, it will be much less pay.
I learnt me penty languageseses. don make fun
Also, why do you think that I am Islamic? I have nothing to do with this peaceful religion, but your narrow stereotypic mind cannot think anytning else, brainwashed creature.
By the way, about something intelligible, I learnt English quite nicely, but are you able to learn some other foreign language to the same degree? any real language, like arabic or russian or chinese? don't answer, because it is clear that your mental ability will never reach such a level
@GyBlk8Q-iiho, You have nothing intelligible to post, at all. Scram, Anti-American Islamic Troll. We use English on this website. When you learn English in a few years, please come back and post. Until then, all of your mindless braindead gibberish will be ignored.
here we go!!! thanks! it shows that you have nothing to say seriously about the western oil industry fate
@GyBlk8Q-igka, Strike three, you're out, illiterate raghead. Nice clown show at trying to seem intelligent. Try harder next time but use another forum. Maybe someone will believe you and take you seriously in your country, not here.
@GyBlk8Q-iotm, where are you? cannot stop your continuous and unstoppable wacking-ogg to write a couple of other below zero IQ messages? give us some more food to estimate degree of your mental disorders. just a couple of words, my poor american friend without job. please!
some typos, correct one:
From the point of view of pure science of psychiatrics, youR post tells a lot about you, that all your mental world rotates only around what you just wrote about, namely waCKing-off and deep and long lack of female presence in close proximity of you. Is this because of your smell? or, this is just any abnormal mental disorder? you can write a little bit more, and we can write nice portrait of you. go ahead, please!
From the point of view of pure science of psychiatrics, you post tells a lot about you, that all your mental world rotates only around what you just wrote about, namely waking-off and deep and long lack of female presence in close proximity of you. Is this because of your smell? or, this is just any abnormal mental disorder? you can write a little bit more, and we can write nice portrait of you. go ahead, please!
@GyBlk8Q-ivhc, After you guys take over the Westerners like you muslims dream of, do you get the promised 21 virgins, or do you still have to wack-off every day, like you do today, because you are unable to attract a woman?
The Grand Plan is to lay off 95% of the oil industry people within 2-3 years, it means the western oil industry, this is not including national oil companies. There is no need anymore to have the western style Giants and Independents in the new world, because there is no oil available for them to explore and develop. There is no competence and skills in the western companies anymore, as the oldest generation is leaving.
What happened to the "genetically modified brain" dude? You know - the one who calls people that as an insult. I suspect that with today's technology a "genetically modified brain" could be a vastly superior one to the average brain. So an insult that is not, not in the least. But of course in comparison to some of the low-IQ posters trolling this site, having a superior intellect would not be hard. And I suppose that they fear and despise those with the higher intellects, therefore they come up with such ignorant hate terms as "genetically modified brain" to indicate a higher intellect than theirs, and their opposition. Or else they simply are ignorant of the fact that it is not an insult. Also the "guaranteed 200%" term. I think this is a person who did not get through middle school much less high school. Does Chevron hire people like this with absolutely no education? I thought you had to at least be literate in basic math and English to get a job with CVX. Apparently not!
Oh, and the bitter, angry, steaming mad, smoke coming out his ass "I live in another country" dude with the long hate-filled rants and doom and gloom. Dude. That's a miserable way to live your life. You lighten up too. Have a drink. Relax. So what if you think the world's coming to an end? You think that you can stop it? Might as well enjoy the time you have left!!
Cheers!
I like how the "weird acronym" guy always ticks the other guy off. LOL! Hey, whoever your are - lighten up. It's just a layoff's forum. Some people on here enjoy the diversion. Some get info. It's all good.
oh, it's the "just keep it in your mind, don't argue" guy.
Hi, clown, I am finishing any discussion here, if you want to continue, just copy and paste each time my last message. Easy enough for you genetically modified body and brain?
There goes the childish ROTFLMMFAOBOAY again. No woman, no prospects, no job, no future. He comes here for the only attention he can get. Sorry pitiful fool.
Hey, clown, I am laughing at all of you, I am working!!! And living happily NOT in your country. And looking from above, how stupidly you plan what to do and stupidly calculate your virtual money, which will be gone instantaneously very soon, everybody in the world understands and sees inevitable collapse of your financial and political system, and therefore total and ultimate collapse of your world. Prepare and enjoy! By the way, my dear American chicken, I ordered you not to argue and just keep it in mind and remember.
Lookie here it's Chicken little again. Buck Buck Buck Buckaaaaaak!! He thinks that because he is useless deadwood rotting on the tree about to get cut everyone should be as miserable as him!! Nice try!!
ROTFLMMFAOBOAY!!!!
You are not chevron personnel anymore, or won't be very soon, because most people will be laid off within 1-3 years from now. Don't argue, just keep it in your mind. Whatever you say or think or calculate your virtual money, it won't change the natural way of life, and collapse of your world is inevitable. Just remember this.
Oh my goodness, the butthurt loser dudes have taken over this thread too? This is supposed to be Chevron personnel discussing layoffs. Clear out, Trolls.
Money will disappear soon from all your accounts. Guaranteed 200 percent
@GyBlk8Q-bgnh, it is good English, enough to understand for any genetically modified brain, which has nothing to do with human being's characteristics, only money money money, which anyway will disappear soon. Guaranteed 200 percent
@GyBlk8Q-bjsc, If you get a chance, could you please re-post that in English, sweetheart?
I don't have time for you , little fat chicken , because I work in comparison with you, who is sitting in these forums without jobs, and soon all your money will disappear.
I miss the little hen with an Ansi 150 Flange stuck up his A$$. Chicken, little - The sky is falling! the sky is falling! Where did you go, little chicken? Buck buck buck buck buck BUCKAAAAAAAAAACK BUCKAAAAAAAAACK ...........where is Turkey Lurky?
Chicken little still trolling? Poor thing. It's OK, your head will be cut off soon.
Chicken little still trolling? Poor thing. It's OK, your head will be cut off soon.
Little fat chicken, you owe too much to the world, you cannot escape, and you will pay. Don't you understand?
@GyBlk8Q-7ceh, Start paying, I have no debt. Maybe you need to read Dave Ramsey's book, sweetheart?
Well well well, it looks like the sky already fell a couple of times on you , causing this kind of idiotic reaction in the situation when all people here are very serious and scared on how to save their money during the ongoing absolute and ultimate collapse of the USA financial system. Don't you see, little stupid chicken that it is the time to pay all debts now?
Chicken, little - The sky is falling! the sky is falling! Where did you go, little chicken of living life? Buck buck buck buck buck BUCKAAAAAAAAAACK BUCKAAAAAAAAACK where is Turkey Lurky?
That's damn right! You think you have some money, but these are just virtual numbers on your accounts, you don't have full and guaranteed control on those now or in the future. At some nice moment in the near future, they can be locked and to be used to bailout banks, which are "too big to fail".
Funny calculations! Whatever you calculate, it will be ZERO000000 soon in real life. Don't argue, just keep it in your mind.
Understood, 5tsq. That's ok. Your return on investment percentage of 11% is possible but too aggressive of a risk when you are now retired. I'd depend more on more conservative investments returning around 6% instead. However, I would not be willing to lose 10% under any scenario to an IRS penalty for early withdrawal. Consult an advisor to set up a separate 72(t) account within your portfolio. Transfer the full amount you would like to withdraw each month into that account and start your equal and periodic distributions to your local bank's checking account. This is one permissible way to avoid the 10% IRS penalty until you are 59.5 years old. After that age you can withdraw at your pleasure. Good luck.
5ims, I used $100,000 just as an illustration. It could be any amount. I used 11% as the minimum return so that you would at least break even. Higher returns are possible and would be even better of course. I used the 6% return because you can generally get that kind of return fairly easily with low risk. Taking more risk will give you the potential for more returns, but there is also more chance of losing your principle.
@5cty, one thing to keep ever present in mind when investing... a Dollar earned after risking it... IS YOURS. Your premise of offsetting the 10% penalty with an 11% gain is not serious investing. Also, living off $6,000 a year (emphasis on "a year") is not a serious plan either. If $100,000 is all your have in your retirement plan, do be it. There are other means of putting that money to work to gain a better return. I'll leave that to you to investigate.
If in your 401k, you have a stock or mutual fund that went up by 11%, this would offset the 10% penalty if you withdrew this in cash. You would basically break even in that case. As long as you can preserve your principle or keep your 401k at a level balance and not deplete it, withdrawing some money from it should be ok. If you have $100,000 say in your 401k and you can get a guaranteed return of 6% on your money (being conservative), you could withdraw $6000 a year (before penalty), for example.
@GyBlk8Q-4kfg - you go ahead and do that Pal, climb down into your survivalist fallout shelter. Don't leave the lights on for us.