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GFGmom Retired @ 46 against everyone's advice. ,,,.how dumb is that?
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<blockquote data-quote="Marcie Mac" data-source="post: 458530" data-attributes="member: 47"><p>DDD, she will take a 20% hit on taxes if she takes it out before 59 1/2 - only way round is to take out a loan, but you are limited as to how much you can take out for a loan, and you would have to pay it back in 5 years.</p><p></p><p>Look on the bright side, at least she has money saved - mine at 40 is still trying to finagle a way out of working so she can be a stay at home mom and a baby sitter- she has not saved a penny for her retirement - the baby making machine is out of commission thank gawd, or we may have had a baby daddy 4,5 or 6 and on ad infinitium till she found someone who could support her in the style she thinks she should be accustomed to. </p><p></p><p>Its a dumb move for your daughter, but she knows how to work the system so she will be ok I think <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p><p></p><p>Marcie</p></blockquote><p></p>
[QUOTE="Marcie Mac, post: 458530, member: 47"] DDD, she will take a 20% hit on taxes if she takes it out before 59 1/2 - only way round is to take out a loan, but you are limited as to how much you can take out for a loan, and you would have to pay it back in 5 years. Look on the bright side, at least she has money saved - mine at 40 is still trying to finagle a way out of working so she can be a stay at home mom and a baby sitter- she has not saved a penny for her retirement - the baby making machine is out of commission thank gawd, or we may have had a baby daddy 4,5 or 6 and on ad infinitium till she found someone who could support her in the style she thinks she should be accustomed to. Its a dumb move for your daughter, but she knows how to work the system so she will be ok I think :) Marcie [/QUOTE]
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GFGmom Retired @ 46 against everyone's advice. ,,,.how dumb is that?
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