https://old.reddit.com/r/wallstreetbets/comments/pghynq/i_just_quit_my_job_so_that_i_could_roll_over_my?sort=controversial
Krayon sexually assaulted his sister. 
GME tard goes full r-slur and quits his job after cashing in his $58k retirement (title edited cuz I don't know these money things)
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Kill your mother before she kills you.
Snapshots:
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Freud would have a lot to say about this
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What even is this one
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you philistine
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Sorry Snappy, but I'm not doing that again.
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Snappy I had no idea you were behind the voices in my head
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GME could go up 40% and they'd still be down compared to SPY for the year lol
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ok dad
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Imagine having your money in anything that's not VTSAX
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Historically, small cap value outperforms in almost every 5, 10, or 15 year period.
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I mean he could realistically cash out and take a year off. But you know he's gonna lose it all on puts or something.
edit: nvm he's an r-slur and has 58k total invested, not gains
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If he does that he'd have an extra $58k of income taxed at ordinary income rates for his 2021 tax return. He'd get double fricked on 4/15/22.
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Plus he would take the short term capital gains hit.
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No he would not. Monies withdrawn from a traditional 401(k) are recognized and realized at time of withdrawal as ordinary income.
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He put it in an IRA. Can't come out for at least a couple decades.
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You can absolutely pull money out of a retirement account early, but if you do you will typically be subject to a 10% early withdrawal penalty.
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Surely those GME shares will make such gainz as to make that 10% not matter right?
...right?
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He could be moving into a new job. If he's been working for a few years at a STEMlord job and was maxing out contributions, $58K is about right, and it's time for him to move on to a new job anyway to get a raise.
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It's infinite unrealized gains until he executes. So, long as he never cashes out it's not yet a loss.
It's like when they hooked an AI up to a game of Tetris to teach itself how to play better, eventually the computer just learned to
pausekill itself because literally anything else was better than being a g*mer.Jump in the discussion.
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Thank you. I am severely lacking in the financialcel info so these nuggets of wisdom are always filed.
Krayon sexually assaulted his sister.
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If it's in a qualified retirement account like an IRA he's only going to be taxed on the money he withdraws from the account, and it will be taxed at ordinary income rates.
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yes and whatever 59 k he cashed out is quite diminished from whatever the total was before, I am bookmarking his reddit account to laugh at later, this money could be donated to the most fraudulent charity ever and it would still seem better managed
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If he donates it he could at least have the benefit of the charitible contribution for his 2021 tax returns.
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Looks like he didnโt gain $58k, that is how much he has invested. :/
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Yeah, this is way, way worse. He quit so he could blow all his retirement savings on meme stocks.
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Title edited. whoops.
Krayon sexually assaulted his sister.
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whoops, title edited.
Krayon sexually assaulted his sister.
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I had a $21 game stop call like a week and a half before it blew up. I'm so mad at myself for selling it for $25 for a profit of $6
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Fret not, friend. You can eventually say that you did better than the OP. OP will be working at Wendy's soon enough crying about all the debt evil capitalism put him in.
Krayon sexually assaulted his sister.
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youโre still doing better than the majority of r/GME and r/Superstonk.
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Similar fate for my AMC calls.
-UncleSamuel
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You only lost out on like $200, that's less than a day's work.
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nothing could possiblie go wrong
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This is the sigma male mindset/grindset
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No
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Imagine having a 401(k) plan so shitty you can't do in-service withdrawals to roll your perfectly safe mutual funds into wildly speculative gambling meme stocks.
I guarantee this paste eater does an indirect rollover, cashes the rollover check himself, and doesn't redeposit the funds into a like-kind qualified account within 60 days thus triggering $58k of ordinary income.
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Doesn't 401k money get taxed insanely high too?
Krayon sexually assaulted his sister.
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401(k) money (assuming it is pre-tax contributions and not Roth) is only taxed when withdrawn, and it is taxed at ordinary income rates.
For example if you make $100k salary and take $50k from your 401(k) and don't reinvest it into another 401(k), IRA, etc., your taxable income is $150k for the year.
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Thanks. These little nuggets of info from people way better at finances than me are always appreciated.
Krayon sexually assaulted his sister.
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Completely r-slurred but at least it's in the spirit of WSB. I hope it works just so the gigatard apes follow his lead and blow up their accounts.
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I still lurk for these nuggets of the OG days.
Krayon sexually assaulted his sister.
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And half of that gets taxed immediately
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Off topic, but one of the stupid fricking redditards in the comments confuses "Tropic Thunder" with motherfrickin' "Apocalypse Now". Jesus fricking Christ kids, quit jerking off to hentai and watching YouTubers all the time.
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lmaooo I saw that! HAHAHA I thought the same thing.
Krayon sexually assaulted his sister.
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LOL. These are the kids calling us Nazis.
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Do r*dditors really thing $60k is a lot of money? He'd have to be a grocery bagger to think this is worth it.
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There was a guy from yesterday (or the day before) who was quitting his job to be a day trader with $70k IIRC in his account but $35k in debt from the loans he took out to make the trades. He kept saying he was fine because he lived in a third world. lol
Krayon sexually assaulted his sister.
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I hate poors so much it's unreal
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I feel that the r-sluration coming from these gme guys is undercovered. They literally think their failing video game stock is going to make them multimillionaires. At least as crazy as qtards
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Ahh, now that's the WSB I know and remember
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If we're lucky he'll film his suicide
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