What if you want to get money out of your 401k, but you don't want it to be a loan? Can you do that?
That depends mostly on whether or not you still work at the company. Most 401k plans restrict withdrawals until you are "separated from service," which is a fancy way of saying that you quit or got laid off. Otherwise, you may be able to get something called an in-service withdrawal, but that is plan specific and the options may be limited.
Either way, if you aren't 59 1/2, you'll pay a 10 percent penalty and you'll pay regular income taxes no matter how old you are.
by countrywomen8 years ago
We were just following the news recently where Jon Stewart accused Jim Kramer (and others in the media) for there part in the 401k losses. Both myself and to a great extent my husband's 401k was lost. Recently...
by mjones967 years ago
how do I borrow money out of my 401k?
by salt8 years ago
does anyone make any money out of hubpages ???if so, how?
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