are we pretending 401ks don’t have penalties for withdrawals now
No one is pretending anything. You're just clearly unfamiliar with these things. A 401k is a type of brokerage account, but it is also a retirement account. Regular non-retirement brokerage accounts have no penalty of any kind. You would just sell some sort of security (yes, during market hours probably) and the funds would be available immediately. Yes, it technically takes a business day to settle the trade, but that is usually obscured by the brokerage who just deposits the funds immediately. A 401k is certainly not the only kind of brokerage account, nor is it what anyone is referring to when it's called a "brokerage account" instead of "401k" explicitly.
Sooo you didn’t watch the video… he was reading the questions verbatim.
"46% said they don't have $500 saved for an emergency." He's obviously reading the results of a study verbatim. That is not the question. And, like the other poster said, I've seen this trick before. The question can be something like "do you have at least $500 in savings dedicated to emergencies" and the respondent will go "it's not earmarked for emergencies, so no."
are we pretending 401ks don’t have penalties for withdrawals now
No on is pretending anything. You're just clearly unfamiliar with these things. A 401k is a type of brokerage account, but it is also a retirement account. Regular non-retirement brokerage accounts have no penalty of any kind. You would just sell some sort of security (yes, during market hours probably) and the funds would be available immediately. Yes, it technically takes a business day to settle the trade, but that is usually obscured by the brokerage who just deposits the funds immediately. A 401k is certainly not the only kind of brokerage account, nor is it what anyone is referring to when it's called a "brokerage account" instead of "401k" explicitly.
Sooo you didn’t watch the video… he was reading the questions verbatim.
"46% said they don't have $500 saved for an emergency." He's obviously reading the results of a study verbatim. That is not the question. And, like the other poster said, I've seen this trick before. The question can be something like "do you have at least $500 in savings dedicated to emergencies" and the respondent will go "it's not earmarked for emergencies, so no."
are we pretending 401ks don’t have penalties for withdrawals now
No on is pretending anything. You're just clearly unfamiliar with these things. A 401k is a type of brokerage account, but it is also a retirement account. Regular non-retirement brokerage accounts have no penalty of any kind. You would just sell some sort of security (yes, during market hours probably) and the funds would be available immediately. Yes, it technically takes a business day to settle the trade, but that is usually obscured by the brokerage who just deposits the funds immediately. A 401k is certainly not the only kind of brokerage account, nor is it what anyone is referring to when it's called a "brokerage account" instead of "401k" explicitly.
Sooo you didn’t watch the video… he was reading the questions verbatim.
"46% said they don't have $500 saved for an emergency." He's obviously reading the results of a study verbatim. That is not the question. And, like the other poster said, I've seen this trick before. The question can be something like "do you have at least $500 in an emergency savings account" and the respondent will go "it's not a earmarked for emergencies, so no."
are we pretending 401ks don’t have penalties for withdrawals now
No on is pretending anything. You're just clearly unfamiliar with these things. A 401k is a type of brokerage account, but it is also a retirement account. Regular non-retirement brokerage accounts have no penalty of any kind. You would just sell some sort of security (yes, during market hours probably) and the funds would be available immediately. Yes, it technically takes a business day to settle the trade, but that is usually obscured by the brokerage who just deposits the funds immediately. A 401k is certainly not the only kind of brokerage account, nor is it what anyone is referring to when it's called a "brokerage account" instead of "401k" explicitly.
Sooo you didn’t watch the video… he was reading the questions verbatim.
"46% said they don't have $500 saved for an emergency." He's obviously reading the results of a study verbatim. That is not the question. And, like the other poster said, I've seen this trick before. The question can be something like "do you have at least $500 in an emergency savings account" and the respondent will go "it's not a dedicated for emergencies, so no."
are we pretending 401ks don’t have penalties for withdrawals now
No on is pretending anything. You're just clearly unfamiliar with these things. A 401k is a type of brokerage account, but it is also a retirement account. Regular non-retirement brokerage accounts have no penalty of any kind. You would just sell some sort of security (yes, during market hours probably) and the funds would be available immediately. Yes, it technically takes a business day to settle the trade, but that is usually obscured by the brokerage who just deposits the funds immediately. A 401k is certainly not the only kind of brokerage account, nor is it what anyone is referring to when it's called a "brokerage account" instead of "401k" explicitly.
Sooo you didn’t watch the video… he was reading the questions verbatim.
"46% said they don't have $500 saved for an emergency." He's obviously reading the results of a study verbatim. That is not the question. And, like the other poster said, I've seen this trick before. The question can be something like "do you have at least $500 in an emergency savings account" and the respondent will go "well, it's not a dedicated for emergencies, so no."
are we pretending 401ks don’t have penalties for withdrawals now
No on is pretending anything. You're just clearly unfamiliar with these things. A 401k is a type of brokerage account, but it is also a retirement account. Regular non-retirement brokerage accounts have no penalty of any kind. You would just sell some sort of security (yes, during market hours probably) and the funds would be available immediately. Yes, it technically takes a business day to settle the trade, but that is usually obscured by the brokerage who just deposits the funds immediately. A 401k is certainly not the only kind of brokerage account, nor is it what anyone is referring to when it's called a "brokerage account" instead of "401k" explicitly.