I owe the IRS 7000 dollars because I dared to use my 401k to buy a house. What the actual fuck. In america anything that is actually supposed to help you gets you into debt >medical bills >student loans >401k withdrawals
Imagine if we actually focused on making the world a better place rather than eating our civilians alive and draining them of their money at every turn.
In my situation, I was in a lose lose. Rent for the rest of my life, or use my 401k and get double taxed on it. Land of the free, too bad the only thing that was ever free in america was how much the common man was sold to the companies for
Sucks but those are the rules for wary withdrawals, my man. I bet your house increased in value more than the $7k penalty you took, though. Congrats on the house. Put a gym in it.
Dylan Baker
Welcome to reality. The common working man in America is financially destroyed and leeched off of by the government and the corporate bastards that control it. Who do you think gets your money? The rich man.
Save it in your folders, I'm deleting it off my phone.
Robert Phillips
U dum nigga
Jacob Green
And the ass raping will continue with ever increasing yearly property taxes
Jaxon Gray
In the end I win out. The rent money in just 6 months already would have been 10,000+ and then there is the home value as its a beautiful home in a very good location. Only thing is that I was broke when I was buying it so 7k to pay at one time is not something I'm capable of doing
Joshua King
>Be you >Too stupid to save normally for house >Have some money in retirement but anyone with any level of intelligence knows that you will be taxed if you pull out early >Pulls money out early >Surprised
I'm confused on how your brain works enough to breathe...
Aaron Myers
kek you should come to serbia. Here you might have 401k in less than 190 years but you wont get taxed for it.
Camden Hall
And they don't pay a dime in taxes either, while the middle class gets fucked
One of my goals in life was to buy a house. The way I see it, buying the house now is a different type of investment. Although I didn't think I'd be set back an extra 7k. I was aware that they tax the money when you withdraw it. But no that's not enough for the jews in the government
They then add the remaining money to your income, and then tax you again. Bruh that's double dipping and unfair af
Jace Ward
>have to give money to the state at gunpoint >this is my workplaces fault! ??????
Brandon James
why didn't you just do a loan against your 401k instead of withdrawing?? it's not the USA's fault that you're retarded
I recently purchased a house as well. Pulled out 10K for additional cash on a deposit but from my Roth IRA principal contributions. I feel for you fren, but don’t be an idiot next time. This is your fault - don’t get mad because of your poor planning.
Cooper King
Yes it is actually. Because they don't teach you this stuff in school. Instead I'm learning about George washmycock and Abraham lickonmyballs for the 100th time
Ryan Moore
welcome to turbo fucked
population: everyone that's not a nigger. I'm probably going to owe over 9000 dollaridoos for cryptocurrency trades i did on a CEX. because that asshole biden is now going after every last cent of that now
Lincoln Cook
Dude. If you ever listen to any advice on here it’s this - pay that tax bill off when due, in full. Drive Uber, sell plasma, doordash, whatever extra you have to do because the IRS is absolutely ruthless. Fucking with them ends up putting you on a “random” audit list for years. They have no problem putting liens in houses, garnishing wages, seizing accounts, and charging you an ungodly interest rate plus penalties. Seriously, figure this shit out.
Wyatt Foster
Fuck you and fuck your taxes
David Green
It's the long con, it just looks shitty upfront
Yeah I already know the irs isn't to be played with. But luckily I have a sob story and I'm pretty good at getting people on my side. I'll probably call them tomorrow and see what my options are
Christian Sanchez
Imagine using a 401k lmao. Post your account’s annualized performance over the last 10 yrs so we can all laugh at how hard you’re getting jewed while paying a bunch of bankers to get rich off your own money. Taxes are at a 50 year low you retard, have fun paying even more taxes on your mandatory withdrawals when you’re too old to fight back
Isaiah Miller
It blows my mind that a basic home economics or basic life finance course is no longer taught. It’s almost a crime to set kids up to fail. Teach them about >credit cards, student loans, and debt >basic insurance information >basic taxes >basic investments and retirement accounts >make them open a free checkings and savings account to pass the course >walk them through what a true monthly cost is to live when mom and dad aren’t footing the bill and you work a shit job.
