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When did you start 401k and what's your balance
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<blockquote data-quote="pretender" data-source="post: 1108922" data-attributes="member: 1493"><p>That is correct, with some restrictions--I believe you have to take equal monthly payments for a minimum of five years. It is nice to have that as an option, but the only problem is that if you live for another 30-40 years, you may run out of money; and you are drawing down the balance at the peak earning years.</p><p></p><p>You are also allowed to take a one time withdrawal (not true with an IRA). My plan is to not rollover my 401k until I am 59 1/2. That gives me the option of taking the one time withdrawal if I need it, without committing for five years.</p></blockquote><p></p>
[QUOTE="pretender, post: 1108922, member: 1493"] That is correct, with some restrictions--I believe you have to take equal monthly payments for a minimum of five years. It is nice to have that as an option, but the only problem is that if you live for another 30-40 years, you may run out of money; and you are drawing down the balance at the peak earning years. You are also allowed to take a one time withdrawal (not true with an IRA). My plan is to not rollover my 401k until I am 59 1/2. That gives me the option of taking the one time withdrawal if I need it, without committing for five years. [/QUOTE]
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When did you start 401k and what's your balance
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