Help me tell my dad NO -- UPDATE

Hi guys, thanks for all your advice in my original thread, just wanted to let you know that me and my mom both sat down with my dad and I pretty much told him I’m picking community college. If he wants to help me buy a car, down paymemt on an apartment, or give me living expenses I’m fine with that, but I don’t want him to take anything from that 401k. Turns out he was 120k in it. I didn’t know that but still, I don’t want him to mess with it.

He doesn’t like me going to community college, but perked up when I said I was still going to transfer to the university that accepted me. I think he’s fine with it all now & now I can relax, enjoy my summer, then start my higher education :slight_smile:

I know, an anticlimactic ending but Hey… Happy Easter!

Good!!

BTW…$120k in a 401k may sound like a lot to a young person, but it really isn’t.

About $120K in 401K…

The rule of thumb is that each year in retirement, you shouldn’t withdraw more than 4% from the retirement fund. For $120K, that’s $400/month. For most people, $400 + Social Security is not sufficient to maintain a comfortable lifestyle.

You’re right. Your parents shouldn’t mess with it.