Cash Out 401K, Early Cashing Out 401K
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Uploader Comments (HarborFinancial)
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@MrDpahls1 hi. I am a benefits consultant with Aon Hewitt (Hewitt Associates LLC.) for your question, if you need the money sitting in your account, you can log into your previous employers website and withdraw the money from there. if your contributions were before tax, 20% fed tax will be witheld. and 10% penalty could be applied if u r younger than 59.5. if you contributions were all after tax, no tax will be witheld. for any further questions, email me saurabh.work@hotmail.com
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@MrDpahls1 damn yuh got 401k..dats alot can i have 20$ lol
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Question: I have a 401K sitting in limbo since I was laid off 3-years ago. I am finally employed full-time, but I am not elegible to participate in my new employers 401K program for 2 years. Being unemplyed for so long has drained my savings completely, and I really need my 401K money to avoid bankruptcy. You mentioned the hardship requirement - does this situation qualify? Also, since my former employer has contributed nothing for 3 years, do they still with hold the 20%? Any help appreciated.
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401k is bad invest.
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I think 401K are a really bad way for people to save money... These plans are the best way for the Wall Street and financial companies to steal from people
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Great video! I have heard that you can use some of your 401k for a down payment on a home/motorhome.
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You will still have to pay a 10% early withdrawal fee, plus tax on the amount withdrawn.
HarborFinancial 2 years ago