Name (required):

  Expression ^{(Optional mood/title along with your name) Examples: (happy, sad, The Joyful, etc.) help)}

  E-mail address (optional):

* Type your message here:
>>You can make an early withdrawal from your 401k >>account, but you will definitely lose some money in >>the process. >> >>The money that you contribute to your 401k is yours, >>and you can make a full or partial withdrawal of your >>vested funds at anytime that your plan allows. >>However, no matter what your age, any funds taken out >>will be subject to income tax and you will be >>ultimately taxed according to your income bracket and >>current tax rates. Remember that large withdrawals may >>put you into a more expensive tax bracket, and that a >>mandatory 20% tax withholding is taken out up-front so >>the cash you wind-up with will be less than the >>original withdrawal amount. >> >>On top of the taxes, you may also face an early >>withdrawal penalty if younger than the retirement age >>(59.5). Currently running at 10%, the penalty can only >>be avoided in certain hardship cases as provided by >>law. These include heavy medical expense burden, >>disability, certain cases involving higher-education >>expenses, buying or building a first home and some >>other cases. >> >>As an alternative to 401k early withdrawals, consider >>401k rollovers or 401k loans, which allow you to >>borrow from yourself with all the interest being payed >>to you into your 401k account.

Notice: Copies of your message may remain on this and other systems on internet. Please be respectful.