Guest
asked 11 months ago
2 Answers - Sort by: Date | Rating
Yes there is a penalty any time you withdraw funds from your 401k before 59 1/2 other than for medical emergencies. But there is also a means of averaging your funds to allow you to withdraw early without a penalty, has to do with your life expectancy and early retirement. A tax professional should be able to help you with this.
1
0
Guest
answered 11 months ago
I am 54 lost my job due to plant closing, owe a small balance on my 401k get unemployment benefits.I need to withdraw from my 401k under hardship pay the remaining balance, pay my taxes and penalties what are my options.
0
0
Guest
answered 6 months ago
- How Long Do You Have When You Turn 701/2 To Take Your 401k?
- Who Was The 401k Provider For T.d.rowe In Denver Colorado?
- How To Make A Personal Improvement Plan?
- Does Divorce Qualify As A Hardship When Taking Money Out Of 401k?
- What Are 401k Wages?
- How Do I Get My Password For 401k?
- I Need To Pay Off My Car And Wanted To Withdraw $5,000 From My Blue Rock Funds With Merrill Lynch - Since I Am Receiving Social Security Disability And Only 57 Would I Have To Pay An Extra 10% Penalty?
- Can My Husband Rollover A 401k And Deceived Me In Divorced?
- I Paid Into A 401k Program To Foster Grant Located In Tucson, Az My Question Is How Do I Find The Money I Paid In?
- Can Child Support Take My 401k Withdrawal?
- Will Taking Money Out Of A 401k Effect Receiving Unemployment In Kansas?
- I Have 24000 In 401K Early Withdrawal How Much Tax And Fine Do I Have To Pay?
- If You Draw Your 401k Benefits - How Does That Effect Your Applying For Unemployment?
- How Do I Withdraw From Blurt It?
- I'm 591/2 Yrs Old .I Have 50,000.00 In A 401k From Ex Husband. I Would Like To Fix My House And Wondered If There Was A Penalty For Taking It Out Early?
- How Do I Get A Loan Agents My 401k?
- What Taxes Do I Pay If Leave 401k Early?
- I Have Retired At Age 62 Have A 401k Want To Rollover Into Ira Could I Withdraw Monthly Installment?
- Where Is Monies Found For Catherine Ann Givens In Gary, Indiana?
- Can You Take Out Some Of Your 401K Money At 60 Years Old?
- What Is The Penalty For Cashing Out 401k Early?
- How Do I Repay?
- I Retired At Age 62 Have A 401k Want To Rollover To An Ira Could I Withdraw From It?
- Can You Draw Your 401k Out In Ky And Still Collect Unemployment?
- If You Retire And Roll Over Your 401k To A Traditional Money Market Ira And You Withdraw All The Funds From The Ira And Are Age 61 Will You Pay Federal And State Taxes On The Amount That You Withdraw? 16,000
Featured Question
- Business & Finance
- Personal Finance
- 401k
- Bank Accounts
- Bank Charges
- Bankruptcy
- Benefits
- Child Trust Fund
- Credit Cards
- Credit Unions
- Death Duty
- Debt
- Estate Planning
- Family Benefit
- Fraud
- IVA
- Income Tax
- Inheritance Tax
- Interest Rates
- Loans
- Money Software
- Mortgages
- Payday Loans
- Philanthropy
- Pocket Money
- Remortgages
- Stamp Duty
- Stimulus Checks
- Tax
- Tax Credit
- Transfer Money
New Comment - Comments are editable for 5 min.