Sunday, August 9, 2009

How can i get the money in my 401k account?

How can i access the funds in my 401k account if i can't can't withdraw it early unless i quit my job and don't qualify for a hardship or loan on it?
How can i get the money in my 401k account?
This depends on your company's 401(k) plan and the type of withdrawal you are requesting. Call your plan鈥檚 toll-free number to see if you are eligible and for details on how to request a withdrawal.





BUT:





You don't really want to do that unless you're literally starving. And if you don't qualify for a hardship withdrawal or loan, you should ask yourself if you really need it that badly -- and perhaps ask yourself repeatedly until the answer is 'No'.





It's a bad move financially and you will pay for it in taxes AND penalties as well.
Reply:30 percent penalty for early withdrawal, are you that desperate. dont do it.


get a second job!

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