Welcome to
On Feet Nation
goditac499 Online
Andrew Online
Edward Online
Peter Online
Khalid Shaikh Online
jack452 Online
Theresa Online
basitkhatr6666 Online
Ab12 Online
Posted by Catherine on October 6, 2024 at 10:22am 0 Comments 0 Likes
Posted by Larry on October 6, 2024 at 10:22am 0 Comments 0 Likes
In general, you can withdraw the funds from your 401(k) account, but there may be significant tax consequences and penalties for doing so.
If you are still employed by the company that sponsors your 401k, you may not be eligible to withdraw the funds without penalty until you reach age 59 1/2, or until you experience a qualifying event such as a hardship withdrawal or separation from service.
If you are no longer employed by the company, you may be able to withdraw the funds without penalty, but you will still be subject to income taxes on the amount you withdraw.
It's important to understand the potential tax and penalty implications of withdrawing funds from your 401(k) account before making any decisions. It may be helpful to consult with a financial advisor or tax professional to understand the full range of options available to you.
© 2024 Created by PH the vintage. Powered by
You need to be a member of On Feet Nation to add comments!
Join On Feet Nation