Comments on: 401k withdrawl rules http://www.zero2rich.com/401k-withdrawl-rules.html Investing to One Million Dollars or Bust! Mon, 13 Oct 2008 18:14:25 +0000 http://wordpress.org/?v=2.5.1 By: JEAN HENDERSON http://www.zero2rich.com/401k-withdrawl-rules.html#comment-154037 JEAN HENDERSON Fri, 03 Oct 2008 22:40:44 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-154037 My sister has a 401K which she borrowed 50,000 because to pay credit cards used to to her illness. She is going to have to go on total disabilty because her health has worsen. What happens to this current loan? What can be done to the remaining amount of money in the 401K and what kind of penalaties will she receive. Thank you My sister has a 401K which she borrowed 50,000 because to pay credit cards used to to her illness. She is going to have to go on total disabilty because her health has worsen. What happens to this current loan? What can be done to the remaining amount of money in the 401K and what kind of penalaties will she receive. Thank you

]]> By: Winifred http://www.zero2rich.com/401k-withdrawl-rules.html#comment-153886 Winifred Tue, 30 Sep 2008 21:37:51 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-153886 My husband is over 61, can he withdraw his 401k to pay off a home equity line of credit on our home? He is still working, but the mtg is getting hard to make because all other costs have gone up. My husband is over 61, can he withdraw his 401k to pay off a home equity line of credit on our home? He is still working, but the mtg is getting hard to make because all other costs have gone up.

]]> By: Rob http://www.zero2rich.com/401k-withdrawl-rules.html#comment-153601 Rob Wed, 24 Sep 2008 10:34:11 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-153601 You can probably just withdraw the money and pay the penalties and taxes. On the other hand, why take it out? Leave it in there to work for you. Right now with the markets so far down, it would be a bad time to take it out. Historically when the markets have tanked, a year or two later it has recovered or been up even higher. Unless you have a desperate need for the money, just leave it there. You can probably just withdraw the money and pay the penalties and taxes. On the other hand, why take it out? Leave it in there to work for you. Right now with the markets so far down, it would be a bad time to take it out. Historically when the markets have tanked, a year or two later it has recovered or been up even higher. Unless you have a desperate need for the money, just leave it there.

]]> By: Gurpreet Sandhu http://www.zero2rich.com/401k-withdrawl-rules.html#comment-153576 Gurpreet Sandhu Tue, 23 Sep 2008 14:13:32 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-153576 I have contributed to 401K for 4 years while working in US and now for past three years I am working in India. How do I get my 401K money back? I have contributed to 401K for 4 years while working in US and now for past three years I am working in India. How do I get my 401K money back?

]]> By: Gary http://www.zero2rich.com/401k-withdrawl-rules.html#comment-151143 Gary Wed, 13 Aug 2008 22:08:19 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-151143 I have aready made a withdrawl from my 401k within the last 12 months to pay for a wheelchair for my child. Now I am needing to make another withdrawl but I'm not sure if this is possible. Is there a limit on how many withdrawls I can do in a 12month time frame. I have aready made a withdrawl from my 401k within the last 12 months to pay for a wheelchair for my child. Now I am needing to make another withdrawl but I’m not sure if this is possible. Is there a limit on how many withdrawls I can do in a 12month time frame.

]]> By: Bad Credit Loans http://www.zero2rich.com/401k-withdrawl-rules.html#comment-151074 Bad Credit Loans Wed, 13 Aug 2008 04:05:55 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-151074 What ever happened to letting the people handle their own money. The IRS think most of us will just blow it and then there will be more poor old people. I think the people that invest in a 401k are pretty savvy to saving money and the ones that don't plan for retirement will always be poor when they get older. This is frustrating and a glitch in our system. What ever happened to letting the people handle their own money. The IRS think most of us will just blow it and then there will be more poor old people. I think the people that invest in a 401k are pretty savvy to saving money and the ones that don’t plan for retirement will always be poor when they get older. This is frustrating and a glitch in our system.

]]> By: Rob http://www.zero2rich.com/401k-withdrawl-rules.html#comment-125373 Rob Thu, 13 Dec 2007 12:40:11 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-125373 Kathy, I have never heard of such a thing. I am not an expert, but I think that is BS!!! Kathy, I have never heard of such a thing. I am not an expert, but I think that is BS!!!

]]> By: Kathy http://www.zero2rich.com/401k-withdrawl-rules.html#comment-125326 Kathy Wed, 12 Dec 2007 21:37:57 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-125326 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 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 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-121680 DARLENE Tue, 23 Oct 2007 15:13:42 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-121680 CAN YOU TAKE MONEY OUT OF YOUR 401K TO INVEST IN A CD(9-MONTH) WITH OUT PENALTY? CAN YOU TAKE MONEY OUT OF YOUR 401K TO INVEST IN A CD(9-MONTH) WITH OUT PENALTY?

]]> By: Mary http://www.zero2rich.com/401k-withdrawl-rules.html#comment-119831 Mary Fri, 28 Sep 2007 15:03:12 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-119831 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? 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 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-109388 mary hirsch Sun, 15 Apr 2007 17:45:17 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-109388 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? 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 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-109387 mary hirsch Sun, 15 Apr 2007 17:43:22 +0000 http://www.zero2rich.com/401k-withdrawl-rules.html#comment-109387 At 70 1/2 years old, what is the percentage that I have to take out? At 70 1/2 years old, what is the percentage that I have to take out?

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