No. of Recommendations: 0
Read your 401K documentation carefully and you MIGHT find that when you quit being
employed by your company, your 401K loan becomes immediately (or within a short time)
due and payable. 401K loans are secured by the employer, not by the 401K servicer (e.g.
Fidelity or Vanguard). From what I've seen, you can only take a loan against a 401K, not
against an IRA that is a 401K rollover (which I think needs to be done within 60 days after
your last day of employment in order to prevent IRS penalties).

Thanks for the info!
I believe you can withraw funds from a 401K up to $50K
(50K or the amount you have actually put into the 401K,which ever is less) and pay yourself a 10 1/2% interest fee for the use of the money. Pretty nice deal, but not near enough to live on. I am contemplating a withdrawal for the purpose of reinvesting in a non tax sheltered account. Possibly front loading the stock market account and in 10-15 years living off some of the stocks until a full 401K retirement is available at 55. I think there might be a chance of making this happen if I front load the stocks with maybe 25-35K. The RB port used 50K and made over 800K in five years time. If I could start out with 35K and do the same in 15 years as they did in 5, I'm set.
Fish On,
AlaskaRusss
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