401K plan?!


Question:

401K plan?

Can anyone shed any light on how I can access the money in my 401K plan?


Answers:

Unless you have an incredibly serious medical emergency, you'll owe taxes and penalties for taking money out of your 401(k) before retirement.

One exception is if you're rolling the funds into another qualified plan. I think you have 60 days to do that or replace the funds.

Check with the institution that has your 401(k).


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