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cashing out my 401k?

our car needs repaired. I know we need the cash for that so he can continue working (I'm a SAHM) . but A) we aren't married even though we have a kid and have been together for 3 years (and friends for 10 years before that). B) this is my LAST retirement fund I had sacked away for the future.

I know we have a good relationship, and have been through a lot of crap together which has strengthened us. but I really don't want to get rid of my safety net for when I am old and decrepit.

outside perspective would be nice.


Asked by Anonymous at 1:15 PM on Mar. 1, 2009 in Relationships

This question is closed.
Answers (6)
  • He isn't marrying you and this 401k is the last thing that you have that is for your future. Don't do it. It is only a car and then your retirement will be gone. Find another way.

    Answer by kathyartist2007 at 1:58 PM on Mar. 1, 2009

  • Cant you just take part of it? I know with my husbands we needed some and I think they told us we could leave some in even though we cashed the whole thing in. You can also always cash it all in and then put it away in a different retirement savings like a CD where you might get a better interest rate.

    Answer by Anonymous at 1:19 PM on Mar. 1, 2009

  • unfortunately that isn't an option. the car repair (or buying a new car) will require all of the money I have saved up. :(

    Answer by Anonymous at 1:21 PM on Mar. 1, 2009

  • I wouldn't do it!

    Answer by Anonymous at 1:25 PM on Mar. 1, 2009

  • Don't do it unless you absolutely have to!! You will have to pay penalties on it! It's really not worth it.

    Answer by Anonymous at 1:31 PM on Mar. 1, 2009

  • sell that one and buy a new one or trade that one in and use it as a down payment for the new one.

    Answer by admckenzie at 2:21 PM on Mar. 1, 2009