The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Company SOLD!! - My 401K !!?||Date: 4/3/2007 4:55 PM|
|Author: ravvt||Number: 56555 of 77568|
I you REALLY feel you MUST take 401K funds to pay down installment debt, you might want to consider taking a loan from your 401K instead of taking a lump sum distribution.
- No tax penalty
- Forced pay back /w interest to YOUR account
Every 401K plan will have its own limits on the fraction of the account that can be borrowed and the payback terms. You might want to consider this alternative...
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|