46% of people are idiots

Would you borrow $ @ 40% interest?

46 pct of people have.

That’s insane. “What bank charges 40% interest?”

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The US govt, that’s who.

“Wait. What?!”


They love for you to do stupid things with money…

“She’s going to take out $ from her 401k…watch…”

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Let’s say you have $10,000 in your 401k FOR RETIREMENT. And you had your employer put that $ in there before taxes.

You withdraw that $10,000.

Now you are not only taxed at your tax rate (let’s say 30%)…



40% of $10,000 is $4000

You just gave $4,000 to the government.

Good job. You’re an idiot.

And you’re in good company because when I was in my 20’s I thought the 401k was a savings vehicle. For down payment on a house, emergencies etc.

One of my parents probably saved me from making this mistake:

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401k is RETIREMENT not savings!!

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What about bankruptcy?
Try to settle the debts for pennies on the dollar. Say you owe $30000 and only have $3000. Offer the lender that first.
If and only if that doesn’t work, you’re up sh*t creek and may consider touching the 401k.

What about foreclosure?
This might be the only other time you would consider it.

Remember that in the dire cases above, you still only get about HALF of what you worked so hard to save.

Repeat after me

“I will not touch my 401k”
“I will not touch my 401k”
“I will not touch my 401k”

img modified from mysilentscream.com


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