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Brown Cafe UPS Forum
UPS Retirement Topics
401K Withdrawl
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<blockquote data-quote="scratch" data-source="post: 4330996" data-attributes="member: 1674"><p>I called Prudential last night and talked to a couple of people. Since I'm 61 I can make withdrawls from my 401K but will have to pay 20% Federal taxes and 5.75% Georgia taxes up front. They do make Closing Cost Loans. I can apply for a Hardship Loan and pay 5.7% interest back over five years, those take a week to approve. I just want a short term loan I can pay back when I sell my current house. I'm going to talk to a couple of banker friends next week and see what they can do. I really don't want to take money out of investments, I'm just trying to figure out the smartest way to do this.</p></blockquote><p></p>
[QUOTE="scratch, post: 4330996, member: 1674"] I called Prudential last night and talked to a couple of people. Since I'm 61 I can make withdrawls from my 401K but will have to pay 20% Federal taxes and 5.75% Georgia taxes up front. They do make Closing Cost Loans. I can apply for a Hardship Loan and pay 5.7% interest back over five years, those take a week to approve. I just want a short term loan I can pay back when I sell my current house. I'm going to talk to a couple of banker friends next week and see what they can do. I really don't want to take money out of investments, I'm just trying to figure out the smartest way to do this. [/QUOTE]
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