I Am 60 And I Want To Withdraw All My Funds From My 401k . Can I Do That?
I have a $25000 loan outstandingand want to get out of it.
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Yes, you could withdraw it all but remember: 10% penalty for early withdrawal, AND the money will be taxed as ordinary income!!! Something to think about, right? Please remember the purpose of a 401k is for your retirement - and I know that debt is probably really making you crazy to get out of it...if you have no other way of doing it, then withdraw the money, but keep in mind the consequences!!..wish I had something more constructive to offer you!!
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