401k Transfer

UPSMannn

New Member
Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.
 

burrheadd

KING Of GIFS
Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.

It’s not savings account

It’s a retirement fund

Lemme guess another millennial
 

BootsOnTarmac

Well-Known Member
You don't have to pay back a 401K loan. If you stop paying on the loan, the loan will default and the loaner will report the remaining balance to the IRS as taxable income.
 

Brownsocks

Just a dog
Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.
Wow! You better just put it in and leave it because thar sounds like a very bad idea.
 
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Jkloc420

Do you need an air compressor or tire gauge
Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.
you can roll it over if you get another job that gots a 401k
 

brownmonster

Man of Great Wisdom
Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.
You can roll it into the Roth option within the 401k but would have to pay back taxes.
 
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