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>be 24 >just cashed out my 401k from my old job >$2000

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>be 24
>just cashed out my 401k from my old job
>$2000 starting
>cashed out for $1600 and paid 20% in taxes
>needed the money now
How bad did I fuck up? I figure with my old employer matching 7% I came out okay, but I really needed the money.

>inb4 poorfag
I know
>>
Nigga are u asking 4 symphony over $400?
Kys
>>
>>1701149
Not asking for sympathy. Just wanted to know if /biz/ thought this was a bad decision.
>>
>>1701143
You probably didn't lose out too much. Since you're so poor, I'm assuming you don't make much and got at least 10% in taxes via the retirement savings contribution credit. Add that with the 7% match and you're down 3%.
>>
you did good, dont put money on the 401k because by the time you have access, there will be nothing left after social security bankrupted itself. Invest money you have control of to gain moar money. So in other words
>use it or lose it
>>
You did good OP
>>
>>1701155
It's $30 who cares

Percentage-wise, bad decision and you know it. But maybe you used it (along with leverage) to buy multifamily real-estate at a great bargain. Maybe it was your only way to buy food without breaking laws and having a criminal record, forever marring your chance to find a place of employ you fucking nignog and then that was a great deal indeed.

Fucj
>>
>>1701167
I make and average of about $15k a year. So the money really goes a long way. I'm trying to finish up my master's degree right now and I'm doing what I can to avoid loans.
>>
>>1701184
What is ur Master's in?
You are wise to avoid loans.
>>
>>1701185
I'm getting it in applied economics/econmetrics. I live off a meager stipend from the university.
>>
>>1701187
That doesn't sound like it pays well. Have you made sure that it pays well?
>>
>>1701190
The applied memeonomics, probably not so much. But the statistical aspect of econometrics is pretty valuable I feel. We'll see I guess kek.
>>
>>1701197
Dude, this is a 5-10 minute google search. Average income of a master's in memeonics. Look it up. Your future is worth that. Credits can be transferred or you can just stop going if it'S not worth the extra debt and your time not spent in the workforce.

Pro tip, compare to B2B sales
>>
>>1701143
Next time have at least 5k in savings before you start your 401k. I usually recommend 10k in savings before investing.
Thread posts: 14
Thread images: 1


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