I am trying to talk myself into getting 4,000 out of my 401k to have fun with. I want to get an apex'i power fc and maybe commander, new injectors, new radiator, and ast. I am running stock turbos, new smic, custom intake,dp, and soon to be installed mp, boost gauge, air/fuel gauge, strut tower brace, knightsport front bumper, and sleek lights. I need need new tires and was thinking on buying new rims and tires instead of the stock 16"s. Does anyone have any suggestions on what I need or think I should get? I don't drive my car that much ( I only put 700 miles on it last year) but I want it streetable. I would like to be in the 12's if possible. Any help would be appreciated. Thanks.


Jon

 

KEEP your money in your 401K. You will thank me in 30 years

 

sorry for the two post. I have over 35k in it and was just going to take out a loan that I pay back at 10% to myself.

 

leave it in the 401k

 

That might be, no that IS one of the stupidest things I've ever heard. Leave your 401k alone.

Dave

 

I'm not a tax accountant, but I think it'd be a whole lot smarter to get a loan at 10% and not get taxed on the 401k withdrawal.

Dave

 

KEEP your money in your 401K you'll thank me in 30 years.

 

It is not a withdraw so I don't get taxed on it. It is a loan that I payback to me at 10% instead of the bank. I think it would make more sense to borrow from myself instead of the bank, but you guys have almost talked me out of it. I just wanted to make it go faster. Thanks for all the replies.

 

^^werd

401k is there for a reason, leave it alone, dont waste your money..

 

yes, keep it in your 401k...dont touch it....

 

Ok I Get The Message!!!!!! You Guys Are No Fun, But Thanks For The Voice Of Reason!!!!!!!!

 

Take out a little more and just go single turbo.

 

The only thing more stupid than taking out a loan to pay for modifications is taking a loan out of your 401k to pay for modifications.

 

revin' I'm with you on this one.

 

When social security goes belly up you'll be bitchin' you don't have enough $$ to retire while you work at Wal*Mart as the 65 yr old greeter.

I asked a financial advisor what the worst move most people make relative to their 401K's, he said, "take a loan"... You pay the 10% to yourself, so your even $$ but your paying back with taxed dollars so if your making decent $$ your paying 28% interest.

Keeeeeppppp it in there.

 

well, I think there are situation where you should take 401K.. but not in this case.

3 years ago before the tech stocks all bellied up, I was heavily investing in tech thru my 401k.
I wanted to pull all out and invest in individual stocks (at that time, it valued more than double what I and my company put in). About 4-5 months before, the company that I was going with was sending people out to "talk" about the investment. I asked if its a good time to pull out and invest in something else, and they all convinced me to stay put. Some of my friends in the business world told me that it was time to pull and invest in something else.. I wish I would of listened to them.. because it fell below what i put in.. and still not close to the value of what I had 3 years ago.. One of my friend acturally listen to my other friend and he almost increased 5 folds in value..

Another point I would like to make is that, we should spend money on something thats going to make us happy... You need to realize what worth what and have a good balance in spending. If I did not spend what I spend on cars and invested, I could of made 2x or more.. but I would of delayed my pleasure owning 7s and good chance that I might not even bought one.. One thing I notice about people who get into investing.. they keep investing.. Money is addictive I hear.. More you have more you want.. good balance is what you need. Enjoy some but don't get yourself in trouble..

 

the advice thse guys are giving you about your 401K is very sound, advice.
I totally understand all the stuff being said about retirement funds, IRAs +etc.
Sound like 10000% all financial advisers, that wants a cut.

But with that being said..

You only LIVE ONCE..
ENJOY IT. only if life was so gray.. right??

when you die, all your savings will be taxed and taken away by the
government anyways.. and yes its better to die penny less n broke,
so you;ll probably end up giving it all away hopefully before the, grim reaper.

Get a Silicon hose job, Boost gauge, Power FC and DEFFINATELY the commander,
Downpipe, Catback, intake,radiator, set your twins to NON Seq, turn up the boost to 12psi,
and if you have $$ left a intercooler, eliminate your AST. and a good tune..
and have yourself a FIERCE FD and play with the BIG DOGS..

and dont' feel feel guilty.. with this inflation, you probably better off spending your 4k now than Later anyways.