Do you realize what the market has actually returned the last decade? The numbers are insanely high. Being 47, you’ve certainly had huge gains as a result of the last 10-15 years.

It can be tempting to do something with what appears to be a big pot of money, but if you consider inflation, it may not be that big of a pot. Keep in mind that not long ago you could feed a family of four at McDonalds for $20.

I think that is a bad idea myself. The market is down from when Trump was in office, and even though it's rebounded some, the rebound amount isn't even close to what your original was worth 4 years ago. Then you will pay interest and penalties on top of it.

Then there is this:

Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more.

Most of the people I know who went into business and were successful opened one doing what they were doing in their current job. For instance, one was a landscape foreman at a local company. He left and started his own company. And since he was one of the formans, he knew all the customers, and they knew him, not the people at headquarters. Attorneys do this alot too. Work for a firm for a few years and then hang their own shingle.

Rollover part or all of it to a self-directed IRA. It will allow you to invest in things like real estate.

What Irish said. Earlier this year I had almost got back to my amount that I had during Trump, but has dropped some one recent months. It’s money making money

Another reason NOT to take any out right now.

When I retire in 5 months, I'm moving all of mine and all of Mrs. Irish's into self directed IRA's. Not sure if we are going to go with Ally Bank or Fidelity or maybe someone else, but currently researching it.

Yeah I might consider borrowing 50,000, but I wouldn’t cash it yet. Of course if you cash it after 59 all you’re really saving is the 10% penalty. The right deal might be worth it. Depends.

Don't think you can do that , at least I couldn't mine.

I always love to view these discussions. I retired at 39. I believe If you aren’t invested in tangible assets, it doesn’t exist.

These money experts all predicted the same thing would be said:

“ I lost a lot but I might as well leave it in now”

“Huge tax bill if I take it out”

“Borrow your own money”

Go the self directed IRA route……

You most certainly can roll over your 401k to an IRA. People do it all the time, everyday.

I'm not sure why your 401k would be any different.

I don't either , I talked with Prudential , they said talk to your company administrator, it varies . Talked with the plan guru in the home office , she said I couldn't . I guess she doesn't monitor Aldeer

I have a self managed IRA with Fidelity. I was self employed for the last 7 years so all the previous companies I worked with I rolled into this self-managed IRA. I was also putting money in it monthly while self-employeed. Now if your company is matching your 401k contributions it will have to stay with them. I am pretty sure that why you can't go the self managed route.

That's crazy... Surely you will be able to when you retire and leave the company.

Irish keep us informed. I'm following this.

Retired and moved it to local Raymond James office about 18 months ago.

Nope

I read today that Bank of America is offering a 10 year bond for 6.55%.

Put $20k in there today and in 2033 when you cash it in, you would have over $38k in that bond. That's a pretty damn good low risk return.

I'm getting almost 4.5% interest compounded daily from our current Ally bank savings account and we can write 6 checks a month from it and free transfers.

Some banks offering over 5.5 % on a cd now in my area . Alfa is selling some the top paying ones . % been going up lately .