Trump's new tariff proposals include a 25% tax on video game consoles

[sethnintendo]

Megiddo said:

sethnintendo said:
Well there aren't many products left to threaten tariffs. He said he wanted tariffs on all products and we are about to get there. In a full blown trade war now. I'm going to take half my money out of 401k with loan because here comes the correction. Plus I will prob die before retirement. I plan on working till I die

Depending how your 401k is codified it may be considered a retirement account, and if you do withdraw money from your 401k and it is considered a retirement account, then you will be hit a very heavy tax (around 35% if I remember correctly). Just FYI.

No that only applies if I cash out.  If take loan can only take half of your balance and you payback (you borrowed from your own money) through your paycheck.  To do this Fidelity charges about 2 or 3 percent interest to borrow own money (edit- just looked it up and apparently it is 6.5% which kind of sucks, apparently they might have raised the rate).  I figure if stocks tank than so what I buy back in at lower price while repaying my loan.  Sure I could put into bonds which could crash too or straight cash to safeguard but fuck it I want the money.

Last edited by sethnintendo - on 25 May 2019