So i got fired from my job of 10 years
just cashed in my 401k
It's about 90,000 dollars
any suggestions I should do before i look for another job?
So i got fired from my job of 10 years
just cashed in my 401k
It's about 90,000 dollars
any suggestions I should do before i look for another job?
put your 401k into a long term investment instead of spending it on bullshit so that when you're retired you're not a fucking drain on society
Every sensible country has something similar and it doesn't let you just piss away your forced savings on buying a new camaro so that you can pick up low self esteem sluts
buy some weed
get yourself a fat trampoline
then that's all you need idk what else you need after that
fap to brazzers cause 90k
>low self esteem sluts
I'm down with that
start doing heroin
>cashing in a 90k 401k
Spend it all on krokodil because your retirement just got buttfucked.
only works until you're 30
after that women start looking for people with aspirations, with jobs, hopes and dreams... Money.
Girls eventually become women and stop slinging their gash once their sexual prime peeters out and they realize the only thing they have to offer the world is an arts degree, and so they start focusing on becoming better people.
You want to be one of those better people if you want a life partner and not just a collection of STI's
The thing is i'm pretty much debt free already. I own my car, pay rent so no mortgage, have credit cards but i don't owe anything for i don't use them. Maybe go back to college or travel the world. Something like that
i support this.
Become an hero
90k AFTER the government takes their share
Why did you take the 30% penalty to cash in your entire 401k? You could've just taken a portion of you needed cash...
I could only take loans from it that i would have to pay back
... That probably would have saved you money rather than ever earning a dime of interest on that 401k. Whatever, buy booze and get drunk for a year
Debt free doesn't mean you have enough for retirement. You intend to retire at what? 60? You can live for another 20-25 years on 90,000? I think not
Here's what you want to do:
Focus on acquiring passive income. These are your IRL "income generators" like dividends from a fairly low risk investment porfolio, or PERHAPS property
I get a steady 7% growth P/A which is about 2x inflation in my area, with 5% dividends on my investments
If that were a million dollars, that means that my money will continue to grow indefinitely proportional to inflation, and in addition, provide me with the equivalent of a $50,000 income per annum into my bank account for doing nothing.
Set yourself up for the future man.
I had my first share portfolio at 10, which I earned by doing paper runs and chores at people places for $20 or so, I paid $500
I bought my first property at 23 for $450,000, I'm now 28. It will be paid off by 35. My parents havent bought me shit or given me a cent, before you ask. They are both financial planners and instilled in me the discipline of not living a wasteful youth.
That $500 investment portfolio I bought when I was 10 has been reinvesting at 11-17% for 18 years is now worth more than 10 fold
If it was your $90,000, you'd be looking at a million by now.
You see what I'm getting at? You can chose to set yourself up for life here, or you can blow it on bullshit.
Damn thats the surprisingly the best advice i could of hoped for
I would buy a Tesla Model 3, however I am a retard when it comes to money.
just remember, diversify! If you think your googles and goldman sachs of the world are too big to fail, you may find yourself in a really shitty situation one day.
By diversifying your portfolio, you significantly reduce risk- secondary to this, you will need to locate a broker you trust, and a planner you trust. Do your own research, don't just listen to your friends for who is good.
Talk to the planner, it shouldn't cost much. Tell them what you want to achieve and what your current expenses are, and what you currently earn and have and they will help formulate a plan for you to get there, and if you are being unrealistic, a good planner will tell you this as well, as well as giving you actual suggestions about how to improve the efficiency of your income without significantly impacting on your quality of life.
Good luck user. May you be a 1%er yet
...
buy some stocks
You have no idea what you have instilled in me.
I was REALLY thinking blowing it all on travel, booze and women
Having that much capital really makes one think like that
The future is important
Thank you user, we'll get there together!