Comments on: I cashed out my SIMPLE IRA http://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Wed, 08 Feb 2012 18:29:01 +0000 hourly 1 By: David Howellhttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-329552 David Howell Thu, 20 Oct 2011 12:45:11 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-329552 My Story, Where in the world did we get this idea of retirement anyways? It is a non Biblical fantasy of the American dream. We will all slow down and be less productive as we age but if we live with in our means and don't borrow money we don't need to pay for things we don't have to have we will be just fine. I have always work hard since I was young and when the IRA,s came up I took advantage of these deposits because of the tax benefit not because I ever intended to retire. Now that I'm 59.5 I am going to take it all out and used this money to help finance my company so I'm not dependent on the people who are slow payers or the banking systems. We who know the Living God through Jesus Christ his son are not living for all the gusto of this life, we are living for another age. DAVID My Story,
Where in the world did we get this idea of retirement anyways? It is a non Biblical fantasy of the American dream. We will all slow down and be less productive as we age but if we live with in our means and don’t borrow money we don’t need to pay for things we don’t have to have we will be just fine.
I have always work hard since I was young and when the IRA,s came up I took advantage of these deposits because of the tax benefit not because I ever intended to retire. Now that I’m 59.5 I am going to take it all out and used this money to help finance my company so I’m not dependent on the people who are slow payers or the banking systems.
We who know the Living God through Jesus Christ his son are not living for all the gusto of this life, we are living for another age. DAVID

]]> By: Danhttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-57502 Dan Wed, 09 Mar 2011 23:03:23 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-57502 I find it interesting I stumbled upon this site. I thought about cashing in my IRA back in 2008. I held off. I have regained my losses, but still feel like I should cash it in, and use the money to prepare for the future. Financially I am doing okay. But truly believe the market is set for another major crash that we will not recover from. Spiritually I believe we are headed on a down hill slide, and we are to prepare for that crash. I find it interesting I stumbled upon this site. I thought about cashing in my IRA back in 2008. I held off. I have regained my losses, but still feel like I should cash it in, and use the money to prepare for the future. Financially I am doing okay. But truly believe the market is set for another major crash that we will not recover from. Spiritually I believe we are headed on a down hill slide, and we are to prepare for that crash.

]]> By: Ahttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-23954 A Wed, 27 Oct 2010 17:58:24 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-23954 I just cashed mine out, too. Three months ago, it was worth over $3000. Today, it was worth about $1700. What's the point, if it's losing money? At this point, it's probably serving me better as a month's rent & a little bit of emergency cash. I'm still wondering how it lost so much so quickly, though. I just cashed mine out, too. Three months ago, it was worth over $3000. Today, it was worth about $1700. What’s the point, if it’s losing money? At this point, it’s probably serving me better as a month’s rent & a little bit of emergency cash. I’m still wondering how it lost so much so quickly, though.

]]> By: Leonhttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1174 Leon Thu, 28 May 2009 20:25:49 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1174 I am currently thinking of cashing out my small amount, $4000. I have an investment opportunity come my way and I believe it will make me more money than my 200 plus shares are making me right now. Before the RECESSION it was worth nearly $8500.........I googled "cah out simple IRA" and your blog came up.....good luck to you and your family. I am currently thinking of cashing out my small amount, $4000. I have an investment opportunity come my way and I believe it will make me more money than my 200 plus shares are making me right now. Before the RECESSION it was worth nearly $8500………I googled “cah out simple IRA” and your blog came up…..good luck to you and your family.

]]> By: Станиславhttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1175 Станислав Sun, 24 May 2009 01:59:23 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1175 А вот интересно, а сам автор читает комментарии. Или мы тут сами для себя пишем? :) А вот интересно, а сам автор читает комментарии. Или мы тут сами для себя пишем? :)

]]> By: Charleshttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1173 Charles Tue, 05 May 2009 17:27:58 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1173 It seems that you gave this some thought......I'm not sure if you made the right call or not. I stuggle with the concept of saving for retirement when I am struggling to manage my current debt. I try to have the attitude that I am going to work and plan for the future attempting to make the most of what God has blessed me with; but with the faith that God will take care of my daily needs regardless of the good or bad decisions that I make. It seems that you gave this some thought……I’m not sure if you made the right call or not. I stuggle with the concept of saving for retirement when I am struggling to manage my current debt.

I try to have the attitude that I am going to work and plan for the future attempting to make the most of what God has blessed me with; but with the faith that God will take care of my daily needs regardless of the good or bad decisions that I make.

]]> By: Jakehttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1172 Jake Thu, 30 Apr 2009 01:22:28 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1172 I think what you did goes against everything 'they' tell you not to. However, I am beginning to think that what you did is 100% right. Especially if you have outstanding debt. The Bible says "owe no man anything" and "you are a slave to your lender". I have ~14,000 in an IRA, and I am considering cashing out just to pay off my CC's and pay off some of the mortgage. Remember those cute little graphs all the mutual funds have in their prospectus (turn $10,000 to $50,000 in 10 years?) I think it's a joke. We are living in times where the dollar is just a piece of non-backed paper. Pay off debt, live in your means, and you will never regret it. I think what you did goes against everything ‘they’ tell you not to. However, I am beginning to think that what you did is 100% right. Especially if you have outstanding debt. The Bible says “owe no man anything” and “you are a slave to your lender”. I have ~14,000 in an IRA, and I am considering cashing out just to pay off my CC’s and pay off some of the mortgage. Remember those cute little graphs all the mutual funds have in their prospectus (turn $10,000 to $50,000 in 10 years?) I think it’s a joke. We are living in times where the dollar is just a piece of non-backed paper. Pay off debt, live in your means, and you will never regret it.

]]> By: Anonhttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1158 Anon Mon, 27 Apr 2009 21:29:10 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1158 Many blessings to you I wish you all the grace to deal with the challenges Many blessings to you
I wish you all the grace to deal with the challenges

]]> By: Angiehttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1157 Angie Thu, 23 Apr 2009 22:15:01 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1157 Did you consider transferring the balance to an IRA? You could have done that. Also, why didn't you wait until you 'needed' the money before cashing it in, instead of giving some (even a small amount) to the government for no reason? And you realize you bought high and sold low? Nothing seems smart about this decision. Did you consider transferring the balance to an IRA? You could have done that. Also, why didn’t you wait until you ‘needed’ the money before cashing it in, instead of giving some (even a small amount) to the government for no reason? And you realize you bought high and sold low? Nothing seems smart about this decision.

]]> By: Stewhttp://www.gatherlittlebylittle.com/2009/04/i-cashed-out-my-simple-ira/#comment-1171 Stew Thu, 23 Apr 2009 17:11:29 +0000 http://www.gatherlittlebylittle.com/?p=1485#comment-1171 We own a home in another state . . . we might sell it in the next month or we might do a deed in lieu in June. We own a home in another state . . . we might sell it in the next month or we might do a deed in lieu in June.

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