Coming soon - Get a detailed view of why an account is flagged as spam!
view details

This post has been de-listed

It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.

1
How to handle existing 401(k) account when starting the Prime Directive Method
Post Body

I have been fully financially on my own for the first time after college for the last six months and despite using budgeting apps, I haven't managed to maintain an emergency fund. After finding this subreddit and reading through the prime directive ideology, I decided to follow through with it and start from square one.

As for the reason I am posting today: I currently have 401(k) contributions set up with my current job in order to max out the employer match. I know to put these contributions on hold and put the extra money towards my emergency fund until I get 1 month's of expenses saved and pay down all debts with interest higher than 10%. However, I was wondering what I should do with the funds I currently have sitting in my 401(k) account. I have a little over $1.6k in the account and am starting a new, higher-paying job on Monday. I was originally planning to rollover my account. I wanted to know if it would be smart to withdraw the funds from my 401(k) to put towards my emergency fund and speed that process up or if I should treat the account like it doesn't exist until I reach a point where I can safely contribute to the account again.

Author
Account Strength
90%
Account Age
8 years
Verified Email
Yes
Verified Flair
No
Total Karma
2,458
Link Karma
2,306
Comment Karma
131
Profile updated: 1 month ago
Posts updated: 2 months ago
​

Subreddit

Post Details

We try to extract some basic information from the post title. This is not always successful or accurate, please use your best judgement and compare these values to the post title and body for confirmation.
Posted
2 years ago