401k, i want my money.

[abecx]

How do I withdraw my money, i dont care if they take stipend, taxes or whatever else.

Can I take it out even if i still work for the company for any reason I want?

[Silverback]

You can borrow from yourself, and pay yourself back interest.

You can cash out everything and pay taxes on it.

You can transfer it to an Ira with no penalties.

[Randy]

depends on who has your 401k and what your employer has set up.

some have it where you can take out a "loan" and pay it back, another option they might have is a hardship withdrawal where you have to apply for the loan get them to approve it then you're on your way.

[Shorty]

Call J G Wentworth

[Geor!]

You can borrow from yourself, and pay yourself back interest.

You can cash out everything and pay taxes on it.

You can transfer it to an Ira with no penalties.

Only if the plan allows it. Most do not.

[abecx]

I want to cash it out, I was uninformed with how 401k works when I was auto signed up for it and now that I know I'd prefer to handle it my way.

I have no wants to transfer it to an IRA, I want to transfer it to my savings account.

I have fidelity, I think it says I can do 1 hardship withdrawl no questions asked but the I cant use their service for 1 year.

I think its 10% penalty + taxes, its only like $2000 that I have in it total.

[likeitfast55]

A withdrawal (hardship) is a 20% tax hit and a 10% penalty if under 59(I think). Most plans suspend you for 1 year. Each plan is different, the administrator(usually your company) has guidelines to follow for a loan and usually it is no more than 50% of the vested amount.

[abecx]

thanks team, this helps alot.

[Captain Crawfish]

rough seas for this market IMO. bernanke may be out of fuel with his QE helicopter. time will tell if you have nice gains nobody ever got hurt taking a profit

[Trip McNeely]

You should just hax0r the money into your account, internet g0d.

[brandon01rt]

When I was younger I chose to cash out my 401 K instead of rolling it over to my next employer. Huge mistake. If I remember correctly it was like a 40% tax.

[Slowhand]

10% penalty and the amount of your withdrawal is included in your gross income for this year, bringing the total tax on the distribution to somewhere between 30-40% for the average TP. Not a good tax answer.

[ELVIS]

300mm swingarm > retirement

god bless.

[slow99]

lolz

[Broncojohnny]

Take that shit to the club and make it rain. When you get old you can just vote your way to a fat ass retirement at the expense of the young people.