1. #36
    d2bets
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    Quote Originally Posted by JIBBBY View Post
    You don't touch it!!!

    You hold out on the 401's and long term stock sell offs, if you need cash tap your Credittt Carrdds that are offering 0% APR for 12 months.. Many CCs companies are offering that right now.. I know I get those 0% offers almost every day in the mail with all my Carrds..

    You buy low not sell low with stocks right now in a down market.. Gut it out. Be patient!! Don't get tempted and panicked and begin selling now just because you are seeing big losses on paper..

    I'd say with your 401K retirement don't even think about it or look at the monthly statements, just forget you have it and check back in 2 or 3 years.. Probably be right back to where it was before Corona hit..
    It's not so low now. It was low a few weeks ago.

  2. #37
    JIBBBY
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    Quote Originally Posted by d2bets View Post
    It's not so low now. It was low a few weeks ago.
    Still you hold and wait.. Maybe it's on the rebound now and that's even more reason to hold and wait.. Drrrr!

  3. #38
    nyplayer33
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    My company can,get you money no penalties..but we charge you 5250.00...no max same charge. But..in order to make it worthwhile, you need minimumx40k

  4. #39
    lakerboy
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    I took money out when Richard burr did.

  5. #40
    Roscoe_Word
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    A friend recently mentioned his 401k to a huge hit. I guess no simple investment is risk free except annuities and CDs.

  6. #41
    d2bets
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    Quote Originally Posted by Roscoe_Word View Post
    A friend recently mentioned his 401k to a huge hit. I guess no simple investment is risk free except annuities and CDs.
    Most people's 401k is down 15-20%. Not that huge of a hit yet.

  7. #42
    TommieGunshot
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    Quote Originally Posted by JIBBBY View Post
    You don't touch it!!!

    You hold out on the 401's and long term stock sell offs, if you need cash tap your Credittt Carrdds that are offering 0% APR for 12 months.. Many CCs companies are offering that right now.. I know I get those 0% offers almost every day in the mail with all my Carrds..

    You buy low not sell low with stocks right now in a down market.. Gut it out. Be patient!! Don't get tempted and panicked and begin selling now just because you are seeing big losses on paper..

    I'd say with your 401K retirement don't even think about it or look at the monthly statements, just forget you have it and check back in 2 or 3 years.. Probably be right back to where it was before Corona hit..
    By this logic, we should take any zero interest loan we could find and use that to fund a 401k or similar account, correct?

  8. #43
    JIBBBY
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    Quote Originally Posted by TommieGunshot View Post
    By this logic, we should take any zero interest loan we could find and use that to fund a 401k or similar account, correct?
    Maybe? You only get 12 months zero interest on carrds though.. Is that enough time to buy and then sell and make a good profit, probably!! If you can get a zero interest loan for a longer duration then a year then that's even better..

    The economy and stock market should really begin to rebound in a year from now one would think. I think that's a SAFE bet as Corona will begin to go away at some point..

    I personally don't like to borrow to invest these days and wont but at zero interest for a year it's tempting for most..
    Last edited by JIBBBY; 04-12-20 at 09:04 PM.

  9. #44
    mrpapageorgio
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    I have $5k in a 401k I never rolled over from an old employer I never touched after leaving them. I'm more considering just cashing that one out and using it to pay off a credit card (had to use it unexpectedly to finance a funeral bill for a relative in the last year) and rolling the remainder into my current 401k. If there's no penalty, makes more sense to pay off that debt that's costs 10% APR and just using what I'd otherwise be paying in juice to add money to the 401k or even an IRA.

  10. #45
    TommieGunshot
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    Quote Originally Posted by JIBBBY View Post
    I personally don't like to borrow to invest these days and wont but at zero interest for a year it's tempting for most..
    I must be missing something, because this seems completely irrational. Would it be better to have money in an investment and owe the credit card at zero interest, or would it be better to not have the money in the investment and not owe the credit card company anything? At first you seemed so sure that the money would be better in the investment and owe the credit card company, but now you're saying you don't like it that way and it's only a firm maybe.

  11. #46
    jjgold
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    The 401(k) will eventually go up leave it

    They are long-term investments anyway

  12. #47
    gauchojake
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    What if Dems win in November???

  13. #48
    JIBBBY
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    Quote Originally Posted by TommieGunshot View Post
    I must be missing something, because this seems completely irrational. Would it be better to have money in an investment and owe the credit card at zero interest, or would it be better to not have the money in the investment and not owe the credit card company anything? At first you seemed so sure that the money would be better in the investment and owe the credit card company, but now you're saying you don't like it that way and it's only a firm maybe.
    After a year at zero interest it then shoots back up to 25% Crediit Carrd interest.. You only get 12 months of free interest, after that you're screwed if you don't pay it off.. Please, don't make me explain it to you like a child. Use common sense and do the numbers..

    I just pointed out Creddit Carrds are giving out 12 month interest free convenience checks.. Yes you can do nice things with that zero interest free money for 12 months if you invest it smartly and pay it back in that 12th month.

    All pending if you have really good credit and nice big fat credit limits on all the Carrds..
    Last edited by JIBBBY; 04-12-20 at 10:52 PM.

  14. #49
    mrpapageorgio
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    Quote Originally Posted by TommieGunshot View Post
    I must be missing something, because this seems completely irrational. Would it be better to have money in an investment and owe the credit card at zero interest, or would it be better to not have the money in the investment and not owe the credit card company anything? At first you seemed so sure that the money would be better in the investment and owe the credit card company, but now you're saying you don't like it that way and it's only a firm maybe.
    If you don't think you can get credit or will pay it off in a year, might not be worth it. Some cards may still charge a balance transfer fee (usually 3%), so do you think you can make more than 3% in the market in that time frame?

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