"You've Really Made Yourself A Mess!"

[@thejakelegion]

Come on. My wife and I moved into a 900sq foot apartment when we got married. We didn't move out until the THIRD baby was on the way. We saved, saved, saved. We now live in a 4,300 square foot house on 16 acres.

[@blackworldtraveler3711]

That's like talking Japanese to many nowadays. They are completely crippled with "what ifs".

[@TTaddicted]

This is the way to do it!

[@cornflowertoile3026]

Wow way to go! ☺️

[@PublicNuisance2K25]

Nobody asked u

[@thejakelegion]

@@PublicNuisance2K25 lol silly whiner. 😂

[@mbvx7]

I love how people call and ask for help but hesitate to tell the truth. He can’t help you if you can’t tell him the truth.

[@SnifferSock]

Where was she hesitating? The $3k account for the baby?

[@bwrscott1]

seems like we all lie (well not everyone on this channel).

[@ImDahDude]

He never helps?

[@MikeNapoli1989]

@@ImDahDudeexactly!! It’s such a manipulative tactic I feel like

[@brendanickelson9059]

I am going back home to take my wife to the airport to see my dad Jesse NickelsonJr

[@frankm2385]

I love when they call Dave for financial advice after the fact and expect to hear wonderful things.

[@darinheight6293]

actually she's realized she's made a mess and is now trying to seek advice on how to move forward the right way. Not funny when people make mistakes. we all make them. Not trying to be negative towards your comment.

[@ShortCrypticTales]

we all do it

[@TM_Stone]

​@@ShortCrypticTalesI don't.

[@ShortCrypticTales]

@TM_Stone if you never made mistakes you got a long road in life, and your in for plenty just by saying that

[@frankm2385]

@mikeb270 🤣🤣🤣 ok kid.

[@nataliexrd256]

You dont need a new house for a newborn. They sleep and eat and barely move. You maybe need more room once they're a teenager. Silly excuse for an impulsive purchase.

[@markroberts8975]

My first kid ate and cried. It was brutal.

[@arielsea9087]

My parents raised 5 daughters in a two bedroom apartment. We survived.

[@PublicNuisance2K25]

Yes everything must b new

[@PublicNuisance2K25]

@@markroberts8975ur wrong kid

[@RaymondDawson-v2w]

The stupidest excuse. This dummy got a house too large for this small family. And worse this idiot borrowed on her 401 plan and she's having another house built meaning she's almost broke. Utter madness!

[@tylersanders2388]

Holy crap this is one of the worst financial decisions I’ve ever seen. A tiny bit of discipline and waiting a few months or a year would’ve saved their sanity

[@KatieBellino]

Yes, on their income, they could have just saved a down payment and waited.

[@bwrscott1]

@@KatieBellino waiting is the hardest thing.

[@blackworldtraveler3711]

Many prefer to be financially handicapped because impatience,feelings,FOMO,YOLO,etc. instead of easy life.

[@BleuSkiddew]

Exactly, especially because this child is going to be a baby for the next few years; there's no need to really want a large backyard, good schools, playgrounds, ect. if the child is going to be too young to use those facilities or services.

[@joejohn.]

If this rapid increase in mortgage rates hasn't put cold water on this insane house fever, I don't know what will. Unemployment I guess.

[@michellem3879]

I love these people who have kids & immediately go to needing more space. No, you need less stuff. A baby is in a crib for the first 18 months at least & they don’t take up much room. You can change diapers on any flat surface, you don’t “need” all the extras the industry says you do.

[@Sara-oi8sj]

When my husband and I had our first baby we lived in a 1 bedroom condo. Our baby slept in our walk-in closet adjacent to our room. He was just fine. I actually liked having a small home with a baby because you can keep an eye on them and less to clean. The idea that you need a huge house once you have a baby is just an excuse to spend a bunch on money on a larger home that you can’t afford and you don’t need. Two years later we moved into a home when we could afford it. Delayed gratification people.

[@shanep2760]

So she only had $7k in cash but thought it would be a good idea to build a $320k house? 🤦

[@mocheen4837]

I see people putting $14,000 down on a $500,000 home. The government will subsidize you with a low interest loan. This encourages people who did not save to take on more debt. Now with a net worth of negative $650,000 what do you do?

[@PInk77W1]

I was wondering about that

[@aolvaar8792]

@@mocheen4837 You sell in 10 years for $2MM

[@thebeautifulmanclub3790]

@@aolvaar8792 you are living in fairytale land. Anyone who only has $14k down shouldn’t overextend themselves for half a million loan, regardless of the APR rate. You think a property will quadruple to $2m in 10 years? 😂. If it actually did you would bleed annually, with property taxes, insurance, and the typical inflation of living costs. I guarantee you wouldn’t be able to keep it for a decade. You are a dreamer.

[@aolvaar8792]

@@thebeautifulmanclub3790 ?????????? Former owner paid $250k in 2006. I bought as a Fannie Mae foreclosure in 2011 for $50K. In 2022, ~$500K That's 10X I live in the Largest American city without a property tax, Insurance is $900/yr

[@jloop_2008]

I love the segments when Ken sits there and says nothing. Best segments ever.

[@jimmymcgill6778]

yep

[@lionessrising]

😂truth

[@azteca6695]

Dave tends to talk over the co-host

[@listerinr]

You don't like the radio DJ voice?? Lmao 😂😂

[@mirabella2154]

🤣

[@hittingthewall]

I subscribed to remind myself that no matter how bad my situation is, there are a ton of people out there who are far worse off.

[@marcenelj]

None of the Dave Ramsey personalities could have handled this call better than this.. This is why Dave Ramsey is indispensable to the show.

[@wahinepaddler4]

Exactly what I thought.. he didn't even ask if she felt safe 😂 Love it when Dave is on..

[@clarifyingquestions]

T'was a very simple concept though:Never take money out of retirement. Listening to this show is an eye opener for me re how the other half live. I am shocked that Baby - 1 - 7 ( what I think is common sense) DR built a 200 million dollar business on. American culture is fascinating - do none of their Amendments address debt, living beyond your means, having common sense:)

[@rockymountainfacet5958]

​@wahinepaddler4 how do you feel!? Lol 😆

[@Primitive_Code]

George probably could. He knows how to do basic math and knows about retirement, taxes and penalties. The others bring psychology and communication degrees to the table. Ken here doesn't even have a college degree. And Jade has a personal life story with a "never again" moment written on its cover. She doesn't add anything.

[@jeffkline9191]

Is the show.

[@cdub7373]

Failing to plan is planning to fail

[@coolaunt516]

How can someone who makes 155K not have money in savings?

[@jeffkline9191]

Entitlement?

[@kelligreer3975]

RIGHT. They are in a world of hurt once the baby arrives.

[@HighCountryRambler]

Impulse buying...

[@debragiovine9797]

Chances are they are living off very penny of 150k income,,, living the high life,,,

[@InternetUser._]

Not hard to spend 10k a month if you’re financially illiterate in the US.

[@PersnameLastname]

Lol hearing “i withrew all of my 401b” you already know Dave would give her the business

[@HighCountryRambler]

And in 30 years she'll be calling radio shows stating "I'm in my 60's with zero retirement savings"...what should I do?

[@Cookieboy70]

It’s infuriating that they make $155k and still decided to withdrew her 401b. If they only waited like a year, they would Be in such better shape, instead its a giant mess.

[@PersnameLastname]

@@Cookieboy70 you think she’s going to return the money? I have a feeling she wont since they need to furnish the new house lol

[@davinasquirrel7672]

@@PersnameLastname She will buy all the sparkly new baby furniture and items, only used for a few months. This is destined to get worse.

[@hollyb6885]

I hate to sound like an old lady but: Young people these days want everything NOW NOW NOW! I’m glad Dave said she didn’t need a new house since a baby dot take up that much room. I thought the same thing.

[@anjawhitaker]

Well, I know of a number of late 50's folks, who make well into a $100k +a year, which have for example a $500k house with more than $400k left on the mortgage and drive luxury vehicles with monthly payments. It is not just the young people who want stuff and buy although they are unable to truly afford what they desire.

[@hollyb6885]

@@anjawhitaker Anyone who lives beyond their means are crazy.

[@nevea.4621]

Exactly

[@jcattera]

Ummm, you Boomers just don't get it do you? You probably paid $20,000 for your home, and it's probably paid for... The US Dollar is not as strong as it was when you where 28yrs old, so it takes a bit more US dollars to buy things today - if you haven't already noticed! Or, is it because your cognitive abilities are diminished with your old age?

[@whothou]

"people these days" lol. Reality check people have been like this since the beginning of time. Numerous boomers carrying debt they can't pay back due to over extending themselves or wanting things immediately.

[@zachallen8653]

It is amazing how many people treat their retirement savings like they are a piggy bank. I once worked with someone who bragged about cashing in a 401k after being let go from a company he had been employed at for 13 years. When I mentioned that is not a good idea, he retort was “it’s my money, I want it now.”

[@RJ12347]

Well he probably needed it Not everyone lives till retirement age anyway

[@FirstnameLastname-et3fy]

​@@RJ12347braindead take

[@blackworldtraveler3711]

@@RJ12347 He will be working until he dies and on Medicaid if he lives and in low income zip code. Like the people I meet when volunteering at food bank or meals on wheels. These people had plenty of time to reflect on how financially stupid they were and why they are where they are in 2023.

[@TheRealEdStoner]

@@RJ12347and pretty much everyone that thinks that way has a stressful retirement.

[@yesmaam4258]

@@RJ12347 Most people outlive their retirement age which is 65 years old.. ever visited an assisted living facility or nursing home...

[@lowkey2262]

I was waiting for her to say her husband has $26,000. She kept talking about the money she had. Have they combined finances yet? I. I. I and never we. Did I miss that?

[@cyndimorgan9792]

Dave’s right.. babies aren’t that big and they don’t need a lot of room. Problem is all the crap you buy for the baby it takes up the room!

[@vivr662]

Where is the state law that says you have to buy all the crap for the baby????

[@shachede6828]

Why buy so much crap? They grow so fast and they don’t remember shit. All you buy is waste and trash. A crib a few toys is good enough.

[@SpencerKraisler]

If only there was a way to make the conscious decision to not buy crap

[@arielsea9087]

Those little bows on babies heads are expensive.

[@silverltc2729]

I just paid 10% lump sum off my student loan. Let's get these millstones from around our necks people!

[@enricopallazzo3244]

Very nice! Much less of your income going to the banks for interest.

[@Dee-w5y]

Prices in Sarasota County, Florida are declining hard. There was a Taylor Morrison development that has homes starting in the $189,000 range. My neighbor is trying to sell their home, and they have lowered the price of their home multiple times, and not one offer to show for it. Absolutely no foot traffic.

[@maryjordan2597]

Most deposits on new construction are nonrefundable!

[@ralphholiman7401]

If you weren't even allowed to ever take IRA money out until you were 62 or older, a lot of people with poor impulse control would be saved a lot of grief.

[@BrianaBudgets]

My parents, my sister and I lived in a paid off 1 bedroom, 1 bath house with washer and dryer in the dining room, floor caving in on one side of the hallway and no central heat/air (in Texas) while my parents saved their money for years and years to build a house.

[@averageperson2659]

YOU CAN’T put the money back in a 403B or 401k once it’s paid, but you CAN put it in an IRA as a rollover within 60 days

[@diceportz7107]

The 401K I was in you could borrow from your 401k but it must be repaid in 60 days.

[@BaconMountainMan]

It depends on the rules of the plan. She may have the option to roll the money back in.

[@kcstorytime4898]

that is not true. you can return it to a 403B and say if you withdraw from it they require you to start paying it back every month as they pull out more out of your monthly paycheck to return it to proper standing, well at least that is how it is for teachers in california if they withdraw. But you can withdraw to buy a house at no penalty or for other hardship reasons up to 50k.

[@joeym8158]

Dave does an amazing job he’s brutally honest and I love it

[@gibblespascack1418]

Hopefully, they did not go out and buy a $45K minivan/SUV on an 8 yr loan for that single child. Impulse buy on a house build was crazy. She is nesting, but he should have put a stop to that. Also for a 150K income, they are going to get 9-10K in income in the next month, which could also go to that 403B and help them out of the mess. New babies do not cost a lot unless if you buy all the toys and gadgets that they cant use yet. Anything beyond a some clothes, a crib, a stroler/car seat, is too much.

[@InternetUser._]

Saw a dude in comment saying he “had no choice” but to buy a 60k suv for “safety and reliability” for his kids. 😂🤦🏽‍♂️

[@gibblespascack1418]

@@InternetUser._ My wife said something similar. However, her demands were to change the 14 year old chevy beretta, 2 door, for a 4 door car for safety. So we spend 19K on a Pontiac Grand Am. The difference was that I had not had a car payment for 12.5 years, and that $270/mo car payment went into savings. The Grand Am lasted 11 years. We buy new so that we know who abused the car before we got it.

[@blackspiderman1887]

​@@InternetUser._people love to try to justify their bad behavior. If you just want it that's fine but be responsible and save up for it. Don't blame the kids.

[@evoman44]

​@@gibblespascack1418I had bought a 95 Acura Integra with a manual transmission back in 2001 for $7,500 with 100k miles. I still have that car to this day as my daily beater with 265k. And I even used to race it in my younger years. The only mayor repair it has needed has been a head gasket at 200k miles. Which by the way a coworker had bought a brand new 1st Gen Chevy Equinox that had the head gasket go out at barely 100k right after he paid it off. The moral of the story is do your research to see which cars have the best reliability history. My little 95 Integra has already outlasted several newer generations of cheap cars because of its excellent build quality.

[@carterbennettmusic8948]

It doesn’t take Dave Ramsey to understand that adding the stress of buying a house after just having a baby should be avoided at all costs

[@penguin12902]

Hahah I closed on my condo and our new house the same day I brought my wife and first born home from the hospital. I give that experience a 2/10 would not recommend. Had to get last minute PoA to sign closing docs for my wife. Unpacking with a newborn. It was chaos.

[@Howdy762]

​@@penguin12902holy shit man lol i guess the point that made it 2 was the newborn being born lol

[@melanieramirez6502]

I’m closing the same exact day I am due…. 10/1

[@hasani9110]

A baby really doesn’t take that much room. Slow down

[@Bethelgal42]

​@melanieramirez6502 Back in 2007, my husband and I were in the process of selling a house and buying another one. We closed on the new house before the baby was born, but move-in day the baby was one week old. On the upside, I didn't have to lift much, and we had helpers who were eager to hold the baby. This was our 3rd baby.

[@BaconMountainMan]

We raised our baby in a small condo and didn't expand until years later.

[@ga6257]

Bad decisions at every turn

[@RonniewbNC]

Taking a 401k loan would have been the lesser of 2 evils.

[@BleuSkiddew]

Gotta love those retirement accounts; it may not be taxed on the way in, but it sure as heck is taxed on the way out!

[@Fishouta]

GREAT call! 12 years ago, i did what the caller did, except mine was to pay credit card debt. Dumb dumb dumb. Do not ever use your retirement savings for debts or purchases. Nope!

[@rossmcgreg6r642]

Be swift to hear, slow to speak and slow to anger.

[@ZuzuPatriot]

Feds just raised the rate again today. What Dave predicted on this call.

[@queen.kristal8395]

Married with a baby and got two houses?I think she is moving to fast at 28 your still young and you have time to buy what you want in life just focus on saving money before having any more kids

[@mike7933]

I audit 401ks, and I cringe everytime I see a loan or a early withdrawal. Most of the time people don’t know what they are doing..

[@striperkid]

How do people not know about the heavy tax penalties from taking early withdrawals from retirement accounts ? And to make matters worse, some people are very confused about tax write offs and deductions....like her baby was a magic baby and just by it's existence would make taxes go away.

[@kokolovitch56]

I was married to a women who spent every waking moment trying to find was to spend money, and she did a good job of it. Fortunately I was able to get out with some sanity left.

[@chimfwembebwalya3229]

The system is designed to push you beyond belief

[@ashleyb1091]

Why rush to mess up, I’ve been renting to pay thing offs. There is just no reason to rush

[@kayn2756]

She probably has car payment and CC debt she forgot to mention. 😂😂😂😂😂😂😂

[@todd2456]

If you pull the $3000 out of the 529, you'll be penalized for that as well, since it won't be a qualified withdrawal for education.

[@emoney1231]

The penalty would only be on the growth, not the basis.

[@todd2456]

@@emoney1231 I guess that would be pretty small, if any, if taken so soon.

[@blackmantravel6954]

Borrowing money for a down payment is stupid

[@AlphaShadowSphere]

Idk what you say to people. Actions have consequences, even if you have a reason.

[@mindyl5990]

Bcs of a baby? I had my first baby in a small 2 bedroom apartment that we shared with my husbands sister and her baby. Then we bought a small 3 bedroom home which we shared with my 2 kids, my sister-in-laws family (husband and 2 kids)…and my parent-in-laws. So yes…my 2 kids shared a bedroom with my husband and I. We survived. We didn’t go out to buy a house we couldn’t afford and our living situation is tighter than hers. She and her husband just wanted a house badly and couldn’t wait…that is what happened. Not the baby’s fault

[@sanctifiedbytruth6048]

I don’t recommend using retirement money but I did use it for medical expenses and my account said because that’s what I used it for I didn’t have to pay the tax or penalty fee. And I used it on a functional medicine dr and labs and supplements to heal my Gastrointestinal issues so that I could continue to work. Conventional GI medicine left me with absolutely no answers and out of desperation I went to my retirement savings to pay for health care myself. I was ready to accept the penalty but then was grateful that you are allowed to use retirement money for healthcare expenses-it may be the one thing you can use it on.

[@brijeshkukreja7411]

Totally agree with Dave Ramsey!! I would never take out from ROTH or IRA or 401k

[@renomccoy7986]

Never?

[@jamiesteiger6140]

I have to wonder what the penalty is to back out of the new house deal.

[@texdevildog9174]

They better not close on that new house, if they don't sell their current house and have two payments. The housing market is cooling and prices are dropping right now. She will not get what she wants in September.

[@blackspiderman1887]

And since she have a baby I'm assuming she won't be working for a while. So guess who's going to have to foot this bill? And people wonder why most divorce happens within the first five years. Putting unnecessary financial strain on you and your husband will certainly cause a rift

[@alrbredwall]

Babies can fit in a sock droor. I never believe people when they say we put ourselves into terrible debt because we "needed" more space. No you didnt.

[@nicholeknight1893]

Frfr, it was just an excuse to buy a bigger house

[@blackbutterfly233ify]

WTF IS droor? Do you mean drawer?

[@costco_pizza]

It is impossible to live with children in a condo. They needed a house, but they should have went about it more smartly.

[@alrbredwall]

@costco_pizza no it is not. Back before Americans adopted this mentality that a 3000 square foot house was normal. Multiple children would live in the same room and used this thing called bunk beds. Even so, a child is tiny and it will be years before they are big enough to potentially need their own space. This was absurd.

[@InternetUser._]

@@costco_pizza Lol. You could put a crib for your baby in a 750Sq/f studio and you would be just fine. They don’t need their own room.

[@RawVeganGinger]

The fact that she thinks that she could write it off just because she had a baby? Yikes. These are the parents raising our future....

[@smithersrob]

Surely this is one of those rare scenarios where you'd just get a personal loan for the remaining 7k, better to have that with a 15% interest rate than the existing effective loan at 40%

[@EddieTSanders]

Wow.. Crazy stuff. It is like walking on a loose rope

[@LifeBindeR222]

People in the US are so spoiled.

[@EstebanAguilarSax]

And don’t know how to manage money.

[@9liveslisa]

This is a case of "I want it! I want it! I want it!" and then "Oh gee! What did I do?"

[@johncameron4194]

Damn....people don't think

[@lisahinkofer2085]

Wow. They should have sold the house they have now and moved into a two bedroom apartment until they saved up enough money to buy a house or just buy a condo. This was a stupid move.

[@jimmymcgill6778]

Should have asked about their cars. I'll bet selling those she can have it paid back in a week or 2.

[@adamseidel9780]

It’s Florida, don’t forget the jetski too

[@jasonbornne7767]

SMH she could have built shelves for a few hundred dollars for the extra space..

[@apollomedia7210]

Hope she does what dave said. He gave an excellent advice and analysis.

[@Matt-cr4vv]

Not a chance and we all know that. But at least he cared enough to try 😂

[@dannyh9010]

Doing the math on her 5% deposit: she had only $7,000 in savings and she bought a $520,000 house! Wow.

[@dappyfull]

Watch the video again. She didn't put down the entire $26,000 she took out from her retirement account. She was required to put down 5% for the construction to begin, and she said she put down $16,000, so the house is valued at $320,000. The extra $10,000 is what she took to cover closing costs on the sale of the house

[@Fishouta]

​@@dappyfull....which they haven't closed on yet

[@mandysimmons2769]

I know a lady who cleaned out her main retirement account to buy a luxury car that her sick husband later totaled. Kinda really dumb.

[@Kingoftheworld500]

"Baby's don't take up that much room." So important! So many people justify buying more house than they can afford because they have a kid. A kid in a small apartment is TOUGH, but it's doable. Save, plan, and when you're prepared there's much less stress.

[@gooserich3970]

This person birthed a child to this world…wow

[@Dividendflywheel]

Dave @3:22 “you guy’s got completely impulsive and you impulsed a house”... Delayed gratification = financial prudence. This call is a window into the callers spending habits.

[@RyansuBike]

Dipping into retirement ...Been there got punished, not my finest moment. I try not to think what it would be worth now but it seemed like a lifeline at the time. SMH

[@CroisMoi]

She would be better off letting go of the new house. She can’t afford it. New houses also cost more.

[@Jericho9696]

Do people not realize the long term negative outcome of taking out retirement early? She didn’t just lose $26K. She lost $800K in 30 years

[@alrbredwall]

Amen. Terrible idea.

[@MrJimmy3459]

I made this mistake once pulling out of retirement in 2015, Uncle Sam took me to the woodshed that year.....

[@Gottaknow]

It's a shame the government taxes us to this degree. Politicians are pathetic!

[@hvaball150]

Unless the tax rate is 70% in 30 years, for that kind of money. Don't laugh. It's been higher than that before.

[@debragiovine9797]

How do you figure that,“””” you have cristal ball… and know her future life,,,, No one know the future of economy,,,in next year ,,,let alone in the future,,, Compound interest means nothing to her,,,,

[@Veganisbadhunter-wx5nt]

The I got to have it now American mantra. She should purchase a Rolls Royce immediately because anything less would be uncivilized.

[@scottlaux6934]

That baby gave her an excuse to buy a big house she couldn't afford. " We needed the space."

[@96ej]

She made a desperate person decision in a situation that wasn't necessarily desperate

[@chookchack]

I hope she doesn’t blame the baby when their current house don’t sell. They are literally in the worst time to market their house interest wise. How about take more money and loan a minivan for 9% interest tomorrow because baby carseats takes too much space.

[@DebbieBennett-p5v]

People make purchases without even looking into it first. Stop buying baby things, stop gettung your hair and nails done. Never ever take out of a 401K!

[@BlueDauntless]

Why didn’t anyone tell her this would happen??? I worked in a tax office and a couple did the same because they thought they could use it with an exception. Which was true, but it had a cap. So they were fined in the rest of it. They owed like $6k that year.

[@Pave25]

Caller needed more space really quickly.. Yeah, she had at least 7months time to save up a bigger deposit and reconsider buying that house ☹️

[@kindredkey]

yeah... she made it seem like babies just pop out instaneously... THERE'S a whole gestation period + the baby doesn't do anything for 6 months and is mildly active for 3+ months after that... this was all them justifying a bad decision.

[@drewo6388]

It's amazing to me how ignorant people are about taxes. People think child tax credits and mortgage interest deductions are a huge windfall. Sometimes they can be but most times they're not! She thought having a baby...one baby...will offset the monstrous tax implications she created from taking such a large unqualified early distribution from a retirement plan. People need to do some research or speak with a professional before they act on stuff like this.

[@Goldman_Bernstein]

Sometimes I like to rub a whole lot of salt and bleach in my paper cuts. This would be a lot less painful than Dave's comments 😂

[@cantgetright742]

Seems like the common screw up. Go to school, get married, have a baby, buy a house all at once and finance every bit of it.

[@joechang8696]

too late, but should have sucked it up with the small condo until she was in the right situation

[@matthewbartke4424]

Am I mistaken or is that 10% just on the interest earned and not the total amount? That can really change the equation.

[@pauls5096]

Borrowed money for a down payment at 40% interest. OUCH

[@youngedwards3265]

Cancel building new house. Lose the Ernest money $16k or try to get it back.

[@kcstorytime4898]

there is such a thing as a hardship withdrawal that is not penalized. If she actually needed the home she could have done that, she could have also received a bridge loan for the funds to cover the deposit on the new property, but that only works if she has enough equity to do the loan. Strange that she went for the quick fix and didnt look at other lending options that would be more favorable.

[@PInk77W1]

Never touch your retirement. You’re welcome

[@frankt1720]

It went to the taxman. Joe says thanks!

[@victors16811]

Super emotional decision! People always justify something to do a mess like that! Being emotional should be illegal!

[@kindredkey]

disagree... emotions are not the right TOOL in this scenario but are necessary in other situations

[@victors16811]

@@kindredkey emotions + money = disaster

[@christiesiebens3611]

I though you could use 401K money for a house downpayment without penalty? When did that stop or I am hearing it wrong?

[@jodykurt9935]

Me too- until I was taxed on it😅 I think it has to be some type of catastrophic reason you used $, death, natural disaster, etc. Hopefully someone can clarify

[@christiesiebens3611]

Hey@@jodykurt9935 So apparently you can take a loan from the 401K and repay it back within a window to avoid penalty, and yes you are right w/o a hardship reason a tax will follow a 401K withdrawal prior to age 59 1/2. You can take 10,000 from an IRA without penalty if a first time homebuyer, which I have unconfirmed info that this "first time" status rolls over every 3 years?

[@bka8851]

Houses they are building close to me are starting at 700,000. They are selling them like hot cakes to people probably making 100,000 dollars a year. These same geniuses are driving around in their leased cars,that theyll pay for until they get their new leased car. The payments never end. Hope they're ready to be broke their entire lives. They sure look fancy though. Good luck

[@archuseapaf6264]

You may be able to sell the house you are building for a higher price if you are in a good appreciating location in September. You may make more money.

[@Mr.LetMeCook]

She messed up borrowing the money

[@leanbean6545]

How many different ways can Dave tell her that she screwed up?!!? 😂😂

[@sweetiespoon5150]

Yes

[@mannyjeanpierre4062]

Dave has been pretty harsh lately.... saying this as a 4 yr listener lol

[@amireallythatgrumpy6508]

Well it does seem like people are only getting dumber.

[@vamte]

hes back to his own root

[@westbccoast]

If you can't handle the truth .. :)

[@leapheap6837]

He’s right. We need more harsh criticism like this.

[@CAVEMAN93able]

Dave gives up

[@Bmoregirl93]

Yikes. That’s all I gotta say!

[@OleFranky]

He wants her to put the money BACK?? When people pull money out of a (small) retirement fund, they've already resigned themselves to the fact that they will lose a good percentage of it for a more immediate gain. No way is she going to listen to his advice to return it.

[@arlenecrespo4316]

Good advice.

[@jimh4167]

What happens when you put Wants instead of Needs

[@SudarshanKeshav]

Take a personal load to deposit back and close this loan when you sell current condo

[@Spimmick]

I have a similar question about pulling from my 457(b). They say there is no penalty if I pay back within 10 years. Is that true?

[@BoeRiden]

Dave was thinking “please be eligible to do a 60 day rollover” 😂 (but remember only one per rolling 12 month period per SSN)