At 26, She Cashed Out $60,000 From Her 401(k) For Fast Food And Band Merch. Financial Auditor Tells Her '$60,000 Would Have Been $1 Million'

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2025/11/08

Presley, a 27-year-old retail manager from Houston, once had something most people her age only dream about: a $60,000 401(k) balance. But in a moment of financial chaos, she cashed out the entire ...

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Financial Auditor Tells Her '$60,000 Would Have Been $1 Million'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-08 00:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/personal-finance/management/25/11/48725600/at-26-she-cashed-out-60000-from-her-401k-for-fast-food-and-band-merch-financial-auditor-tells-her-60000-would-have-been-1-million><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Presley, a 27-year-old retail manager from Houston, once had something most people her age only dream about: a $60,000 401(k) balance. But in a moment of financial chaos, she cashed out the entire ...</p>\n\n<a href=\"https://www.benzinga.com/personal-finance/management/25/11/48725600/at-26-she-cashed-out-60000-from-her-401k-for-fast-food-and-band-merch-financial-auditor-tells-her-60000-would-have-been-1-million\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BYQQ9H92.USD","symbol_name":"BNY MELLON GLOBAL LEADERS \"A\" (USD) ACC","start_time":0,"source_url":"https://www.benzinga.com/personal-finance/management/25/11/48725600/at-26-she-cashed-out-60000-from-her-401k-for-fast-food-and-band-merch-financial-auditor-tells-her-60000-would-have-been-1-million","article_id":"2581883883","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2025/11/07/Solo-Households-Add-Financial-Strain.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/personal-finance/management/25/11/48725600/at-26-she-cashed-out-60000-from-her-401k-for-fast-food-and-band-merch-financial-auditor-tells-her-60000-would-have-been-1-million","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2581883883","pubTimestamp":1762533960,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Presley, a 27-year-old retail manager from Houston, once had something most people her age only dream about: a $60,000 401 balance. But in a moment of financial chaos, she cashed out the entire thing.On a recent “Financial Audit” podcast, Presley admitted to personal finance YouTuber Caleb Hammer that she used the money to pay off debt, buy takeaway and furniture, move apartments, and splurge on K-pop concerts and gifts.“That $60,000 would have been a million dollars,” Hammer said. “Five hundred thousand dollars in today’s money. After inflation, you lost $1 million.”Presley earns around $67,000 a year, bringing home about $4,300 a month after taxes. Despite living in a relatively more affordable metro, she spends far more than she earns. Her daily habits include DoorDash orders, snacks from gas stations, and constant shopping at the mall where she works. In one month, she spent roughly $700 eating out.Charlie Munger says that's the toughest milestone — don't stall now. Get matched wit","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BYQQ9H92.USD":"BNY MELLON GLOBAL LEADERS \"A\" (USD) ACC","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","BK4588":"碎股","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","BK4104":"贸易公司与经销商","FAST":"快扣"},"translate_title":"26岁时，她从401(k)计划中提取了60,000美元，用于购买快餐和乐队商品。财务审计师告诉她“60,000美元本来就是100万美元”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FAST":1.5},"content_text":"Presley, a 27-year-old retail manager from Houston, once had something most people her age only dream about: a $60,000 401(k) balance. But in a moment of financial chaos, she cashed out the entire thing. \nOn a recent “Financial Audit” podcast, Presley admitted to personal finance YouTuber Caleb Hammer that she used the money to pay off debt, buy takeaway and furniture, move apartments, and splurge on K-pop concerts and gifts.\n“That $60,000 would have been a million dollars,” Hammer said. “Five hundred thousand dollars in today’s money. After inflation, you lost $1 million.”\nDon't Miss:\nPresley earns around $67,000 a year, bringing home about $4,300 a month after taxes. Despite living in a relatively more affordable metro, she spends far more than she earns. Her daily habits include DoorDash orders, snacks from gas stations, and constant shopping at the mall where she works. In one month, she spent roughly $700 eating out.\nShe told Hammer she blames stress and convenience for her spending, saying her dog and a sensitive fire alarm make cooking difficult. But Hammer wasn’t buying it. “You got a dog and have a fire alarm,” he mocked her. “Which means we must go DoorDash and get ourselves into debt and pull out and lose a million dollars.”\nTrending: 7 Million Gamers Already Trust Gameflip With Their Digital Assets — Now You Can Own a Stake in the Platform\nEven after cashing out her 401(k), Presley quickly found herself buried in debt again. She owes more than $70,000 in total, including over $20,000 on credit cards with interest rates above 25%, a $31,000 car loan on a Subaru Outback that’s worth less than she owes, and about $8,600 in student loans. She’s consolidated her debt multiple times but keeps ending up in the same position.\nPresley says she doesn’t like budgeting because it makes her feel restricted. Instead, she spends emotionally and justifies her habits as “deserved” rewards. Recently, she even sold $7,000 in stocks to pay bills and attend another concert.\nSee Also: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100.\nHammer calculated that Presley spends between $5,000 and $7,000 each month while only earning $4,300. Her minimum debt payments alone add up to more than $2,000 monthly.\nHe warned that if she keeps going like this, she’ll have no choice but to move back home with her parents, a reality she’s already considering. \nHammer urged Presley to make drastic changes: sell her car, shut down her credit cards, and use a debit card to rebuild healthy financial habits. “You have to get rid of the car and you have to move into home and grind for three years and work an extra job as well,” he told her.\nHe also advised her to sell her $10,000 worth of K-pop merchandise to fund future concerts instead of relying on credit.\nRead Next: Have $100k+ to invest? Charlie Munger says that's the toughest milestone — don't stall now. Get matched with a fiduciary advisor and keep building\nImage: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}