Inviolate Investments

Talking Real Money - Investing Talk

Don McDonald

Education, Investing, Business, How To

4.5 • 811 Ratings

🗓️ 7 April 2025

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Talking Real Money, Don and Tom sound the alarm on a troubling trend: more people are dipping into their 401(k)s for emergencies. While hardship withdrawals are allowed under IRS rules, they come with serious penalties, taxes, and long-term setbacks. The hosts stress the importance of building an emergency fund before maxing out retirement contributions to avoid turning your future into a piggy bank. They also respond to questions about how to find fiduciary ...

Transcript

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0:00.0	Reality Radio for a really great future.
0:08.0	We're talking real money.
0:10.6	You work hard for the money.
0:13.2	So hard for it, honey.
0:15.9	You work hard for the money, and we hope you have a 401k.
0:20.8	Okay? We do. We hope you have a 401k. Okay?
0:21.4	We do.
0:21.9	We hope you have a 401k because, you know, it's good for you.
0:24.8	However, there's something you probably should have before the 401k.
0:30.0	And we'll tell you what that is in a minute.
0:31.7	Hello, everyone.
0:33.0	I'm Don McDonald in the Florida Talking Real Money Studio.
0:37.4	Tom Cock is in the one of the two Washington
0:41.1	studios. The other looks a lot like a laundry room. This is not the laundry room. This is the
0:45.7	luxurious studio in the offices of Appella Wealth. Beautiful studio. Oh yeah. Nothing like it. Got a window
0:53.4	looking out over. Oh, look. It's another gray day in Seattle. Oh yeah. Of this. Yeah. Nothing like it. Got a window looking out over.
0:54.4	Oh, look.
0:55.6	It's another gray day in Seattle.
0:57.4	Oh, yeah. And there's a guy out there blowing leaves. There's a lot of leaves that have fallen, as you know, in the last three months here. So, ha ha. Kidding. Yeah. Oh, yeah. Those are evergreens out there. I was going to go, why is it green?
1:08.5	Well, and even the other ones pretty much stopped falling in like November.
1:12.8	We are in March now.
1:13.8	So, hmm. greens out there. I was going to go, why is it green? Well, and even the other ones pretty much stopped
	...

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