D
Deleted member 107796
Guest
Hey all,
I am assuming that barefoot is as forum acceptable as red/OD grn socks, like a caveman long distance hunter.
I thought I'd flop this out there as many folks do not know that this rule exists and is a throwback to when I was a kid and 55 was generally the retirement age, As early as within the year you turn 55, you can cash out your 401k WITHOUT any penalty. The rule is simple... you must quit your current job and only have access to your current 401k, so you would want to roll up any secondary accounts into your current, if you want the entirety. Many accounts will have restrictions on what you can do after disbursement, but the federal rule still stands.
My thought is this, many of us put up with the roller coaster ride thru our lives, but when you need your funds, you need your funds. I could not imagine being say 65, another crash occurs and my only source of retirement funds will need 8-10 years to rebuild. Not for me. One last thing to note, there is no financial manager that will advocate/initiate this for you, as always, your decision should be your decision. cheers!
I am assuming that barefoot is as forum acceptable as red/OD grn socks, like a caveman long distance hunter.
I thought I'd flop this out there as many folks do not know that this rule exists and is a throwback to when I was a kid and 55 was generally the retirement age, As early as within the year you turn 55, you can cash out your 401k WITHOUT any penalty. The rule is simple... you must quit your current job and only have access to your current 401k, so you would want to roll up any secondary accounts into your current, if you want the entirety. Many accounts will have restrictions on what you can do after disbursement, but the federal rule still stands.
My thought is this, many of us put up with the roller coaster ride thru our lives, but when you need your funds, you need your funds. I could not imagine being say 65, another crash occurs and my only source of retirement funds will need 8-10 years to rebuild. Not for me. One last thing to note, there is no financial manager that will advocate/initiate this for you, as always, your decision should be your decision. cheers!