I want to cash out my 401k to purchase my retirement home. I am still working but want to cash out. I have about 10 years of work left with the same company. The cash out will purchase the retirement home free and clear. Is this do-able?
It's probably going to depend on how old you are. If your under the age of 59 1/2 then you will have to pay a penalty fee to withdrawal your money out. Sometimes they will allow you to take out loans against your money too. I would just call your 401K Company and ask them what your options are.
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