darrylgonzalez46
New Member
With about respected answer, I would like to recommend you an article 401k withdrawal rules
got it just changed my 5 % to all 0's ..thanks
+1Don't do it!!! keep the money in there. Work your 35 years and you'll be grateful you kept putting it in. Wish I had the 401K available when I started and the wisdom to take advantage of it.
good haha im only down like 15% for the year....not too shabby compared to some
how would an hourly go about opting out of 401k? i know i can just stop contributing but i would like to roll all of my 401k before tax and after tax contributions into an ira.
I thought the age at which you could take money out of your 401k was 59 1/2, not 55.
How does that work Tie? Can you make monthly withdrawals orif you retire at 55 you can then draw from the fund.
I thought the age at which you could take money out of your 401k was 59 1/2, not 55.
if you retire at 55 you can then draw from the fund.
Helen, I believe you are right. You cannot start receiving payments until you reach 59 1/2 and you must start taking payments when you reach 70 1/2.
no extra tax penalty if taken out at 55 (the 10 percent penalty is waived), however you will be paying taxes depending upon you tax rate on all funds recieved and not rolled over into an ira.