401k

[gentlefriend]

Looking for Christian Financial Advisors:

With the economy falling, and the prophetic events happening one after the other.. is it wise for me to take my money out of my 401k early(with major penalty) and pay off my debt.

I am in my early forties and figure the way everything is going, I will probably be spending my retirement with God in Heaven.

What do you think?

My 2 sisters and father are in finance and they would throw up if they thought I was even considering this. But they do not know the Lord, and do not know Biblical Prophecy.

[Old 33]

Question...if you are convinced you'll be out of here shortly, why are you concerned about your debt?

[Old 33]

Whenever I see questions like the one you posed, I am reminded that Jesus told us that not even He knew the time of His return.

If could be just around the corner. It could be thousands of years off.

My recommendation would be to continue to live as you have been. Be spiritually prepared for the "just around the corner," but keep saving for retirement in case it's thousands of years off.

[Cameron]

Hang on to that 401k. Its one of the best savings vehicles ever invented.

Did you see today's market?

[SnoDog]

Definitely hang on to the 401k. You may need that money.

[GodwithUS]

I am keeping mine, my company matches dollar for dollar up to 6 percent. I consider it free money.

[Racheal59]

Talk to your Bank , the person who is in charge of this account and ask them if they can put your 401K in safe accounts. They do have different stocks that are very, safe although the percentage of growth is minimal. This way you're still making money and no fear of losing when the stock market crashes and no penalty for taking it out.

[Bernardd]

Whenever I see questions like the one you posed, I am reminded that Jesus told us that not even He knew the time of His return.

If could be just around the corner. It could be thousands of years off.

My recommendation would be to continue to live as you have been. Be spiritually prepared for the "just around the corner," but keep saving for retirement in case it's thousands of years off.

Great post, great advice.

I'd hold that 401k and pay that debt by other means. Ask yourself also, if you eliminated that debt today, would you turn around and run it back up or have you fixed that problem already. If you have fixed it, there are other strategies to pay your debt.

[DawnGrace]

Keep your 401K and just tighten your seat belt. We're all in this boat together. If it goes we all go--and the govt will come up with SOMETHING just to keep themselves afloat which will also keep us afloat until the storm dies down again.
If you jump out of the boat and this turns out to be nothing, or they come up with a fix for us all, then you will regret your move. (my opinion)

[BrideOfChrist]

The penalties are HUGE for early withdrawals! Not worth it IMO. I say keep it. :)