Best way to convert a 401k for the purpose of taking a lump sum disbursement?


Posted July 7th, 2009 by admin 5 Comments »
401k
massomia asked:


I’m planning to quit my job, roll over a 401k, is it better to take a loan while still employed, roll over to another account after separation and take a disbursement? which way saves me money?

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Posted in Personal Finance | 5 Comments »

How long does it take to get 401K disbursement for under 59 1/2 year old, hardship withdrawal once filed?


Posted February 24th, 2009 by admin 4 Comments »
401k
Concerned asked:


My husband has been out of work and we have separate 401k plans but need to take a lump sum from his plan to help with the bills or we won’t have a place to live.
1. How long does this process take?
2. We want to opt for the 10% and 20% tax and penalty to be taken out before the disbursement. Will we be taxed or penalized again on it when we file our taxes?

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Posted in United States | 4 Comments »