Comments on: 401k withdrawl rules

By: Georgiana

Georgiana — Fri, 30 Sep 2011 14:24:20 +0000

I’m 61 and I need to my 401k
Now…what’s the most uncomplicated and fasted way to just get it without “it’s my money and I want it now!”
There’as a 16 page withdrawal
“form” online…should it be
that complicated??? Thanks!

By: Rick

Rick — Tue, 02 Aug 2011 16:52:31 +0000

I have 2 loans out against my 401k. one paid off this Nov. (single parent with 3 kids emergency) anyway, can I request a hardship withdrawl to cover my property taxes. They will be overdue 22 Aug.

By: Fisher

Fisher — Mon, 25 Jul 2011 02:25:08 +0000

Hey, cool post! Thanks…

By: shannon

shannon — Fri, 25 Feb 2011 01:09:20 +0000

The Penalty is bullshit!

By: scott

scott — Mon, 06 Dec 2010 17:29:49 +0000

For an early withdrawl on a 401 k Is 20% off the top then 10% penalty, so thats 30% at tax time do you claim as Income the amount before tax and penalty or after. Thanks

By: Sandra

Sandra — Tue, 12 Oct 2010 21:23:25 +0000

I am 60 years old. I know I can now withdraw from my 401k without penalty. Someone told me that there is a new rule that states if you use the withdrawal to purchase a primary residence, it is not taxed. Is that true? Where can I read up on this?

By: Jamz Products

Jamz Products — Wed, 28 Jul 2010 17:04:02 +0000

WOW What a wealth of information. Thank you so much for compiling this info for me.

By: Margaret Kiel

Margaret Kiel — Tue, 06 Apr 2010 22:56:15 +0000

I got laid off November 2008 at 62 from a small company. The Company will not give me my 401-K. Can a Company do that, make their own rules? What are my options now? Help please! Thank you.
Margaret

By: Ayen

Ayen — Wed, 24 Mar 2010 02:52:52 +0000

At age 60, is lump-sum withdrawal possible to 401k? How much would be the total amount that I will get?

By: Noel @ Make Money at Home

Noel @ Make Money at Home — Sat, 12 Dec 2009 11:44:28 +0000

There’s a bigger salary from working online, and you could be a lot prepared when you retired.

Even senior citizens could work at home through Internet jobs. We could call it work and they could earn money, we could call it hobby so they would feel good and happy.

By: Linda @ work from home canada jobs

Linda @ work from home canada jobs — Thu, 10 Dec 2009 14:07:17 +0000

Make a good use of your money when you retired.

There are lots of work at home jobs that could help you earn extra money. Join more Internet forums so you could get more ideas

By: Make Money From Home

Make Money From Home — Sat, 21 Nov 2009 18:28:39 +0000

It’s quite obvious that you are going to get a “penalty” if you premature use the money from your 401k. Use it after you are retired – if you need money before that, why not try and make some extra from the various work at home opportunities that can be found online.

By: Steve Welch

Steve Welch — Wed, 21 Oct 2009 02:49:33 +0000

I am 62 and need funds for a down payment on a home. I always thought after 59 and a half that I could obtain funds from my 401K but the company now tells me I have to wait until I am 65. Does not seem right.

By: Cottie Gorham

Cottie Gorham — Mon, 12 Oct 2009 18:18:06 +0000

If you can cash 401k at age of 71 what is the percentag of taxes to be paid.

By: Rob

Rob — Thu, 13 Dec 2007 12:40:11 +0000

Kathy, I have never heard of such a thing. I am not an expert, but I think that is BS!!!

By: Kathy

Kathy — Wed, 12 Dec 2007 21:37:57 +0000

I am needing to withdrawal from my 401k to keep me from losing my home. My boss said since I have not contributed to it this year I can not withdrawal any. Is that true

By: DARLENE

DARLENE — Tue, 23 Oct 2007 15:13:42 +0000

CAN YOU TAKE MONEY OUT OF YOUR 401K TO INVEST IN A CD(9-MONTH) WITH OUT PENALTY?

By: Mary

Mary — Fri, 28 Sep 2007 15:03:12 +0000

I would like to withdraw $1800.00 to pay off a loan with the intent to increase the amounts that I currently have taken out of my check. Will there be a penalty?

By: mary hirsch

mary hirsch — Sun, 15 Apr 2007 17:45:17 +0000

At 70 1/2 years old, what is the percentage that I have to take out?

I’m assuming the answer would apply to both 401K’s as well as my IRA, yes?

By: mary hirsch

mary hirsch — Sun, 15 Apr 2007 17:43:22 +0000

At 70 1/2 years old, what is the percentage that I have to take out?