Cash Out 401k

[Lane Kawaoka]

Has anyone withdrew upon their company sponsored 401k, while paying the 10% penalty? What was your thought process?

[Nick Collins]

Though this goes against conventional thinking but I'm most likely going to cash out my 401k for operating income in my business. It's about $85k less the 10%. I'll worry about the taxes when it comes time. I figure I'm 33 Graduated college in 2007 been working full-time ever since making a salary progressively more YOY, the last 3 years capping out at $75k. My thinking is if I continue on this path I can retire poor or take a chance and go all in. I've given this much thought and should I lose from this decision then I'll deal with it and figure it out to keep moving forward. I know most people will disagree so come on tell me I'm crazy!