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Old 11-05-2020, 09:03 PM   #21
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I'd be doing #2 and #3. Take out a very low APR loan on the pickup truck. Take out half the $ from the 401K/IRA end of December and the other half in January.

You don't want to get kicked up a tax bracket, however.

When I retired, all my toys got old at the same time. I bought a Waverunner, a Bennington tritoon, a Grand Design 36' fifth wheel trailer and a Ford Explorer at about the same time. I financed them short term, but they're all paid off now.
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Old 11-05-2020, 09:25 PM   #22
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Just keep what you have until it breaks.
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Old 11-05-2020, 09:46 PM   #23
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Originally Posted by Dynaflash View Post
We retired 2 years ago and live a pretty frugal life while still traveling and having the things we need. Now I have decided that I want a New truck and New camper. I will need about 100k to get these things. Here is the question. How do I remove this money from my 401k?
Sounds to me like you need to do some tax planning. Several years ago I worked up a plan as to how I was going to move my taxable IRA/401K money out to minimize my taxes/rate. You give no clue as to age, size of tax deferred moneys and other income/savings.
If you have a substantial amount, it would pay to get help. Quite a difference in paying 12%, 15% or 22-25% or higher.

But, by all means, get the new truck and camper while you can still enjoy it. You can take advantage of low rates, get it now, and crunch the numbers and pay off as much as you can early in a tax frugal manner. I have had trouble spending the dough, but getting better at it. Hard to believe how hard it is to change from saver to spender.

Best of luck.
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Old 11-06-2020, 12:21 AM   #24
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Just keep what you have until it breaks.
Robbie, is that you? Has your account been hacked? Blink twice if you are being held against your will....

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Old 11-06-2020, 04:42 AM   #25
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Robbie, is that you? Has your account been hacked? Blink twice if you are being held against your will....

My reaction as well!
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Old 11-06-2020, 06:13 AM   #26
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Robbie, is that you? Has your account been hacked? Blink twice if you are being held against your will....

Blow that dough?? Well, it is 2020.
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Old 11-06-2020, 08:13 AM   #27
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That looks like some great info. I will study your post later tonight. Thanks a lot for your hard work
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Yay! I’ll be looking for it as 2021 will be a year of change for us.
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The 2021 Trigger Level post is up and running here https://www.early-retirement.org/for...-a-106300.html
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