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by Znicest on August 14th, 2009

Znicest

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I want to cash my 401k in and I'm nowhere near retire, who do I got about this? (I do not wish to put it in a IRA or anything and I also know I will not get the full amount)

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  • by qwerty on August 14th, 2009

    qwerty

    you need to qualify for at least one of the four hardships set forth in the IRS guidelines
    this isn't a bank account, you can't just take money when you wish
    If you are unemployeed and vested in the program you have the choice to roll over the money or cashout you will lose at least 30% of thye vested value depending on the plan
    if you are working you should be able to take a loan of up to 80% of the vested value

    Comments

    • I agree. I did the same thing when I was young and regretted it years later. Don't throw away good savings.

      HoboJoe

      by HoboJoe on August 14th, 2009

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