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ok guys i just got laid off in June i have received a severance package and they killed me in taxes. what i would like to do is roll my 401k into an IRA,( for the tax break) and right now i'm in the second phase of interviewing for a federal job. the federal job is a lot less money, so what im thinking is 401k to an Ira than if i get the federal job roll into the a tsp take a lone out to pay off all bills except my house. the tsp loan is 2.5 %.

my thinking is 1 i'll be debt free minus house. 2 get a ira deduction. 3 a low interest and wouldn't have to pay the 10% tax penalty. my concerns are the time frame. 401k to ira does it have to stay there a certain amount of time? when i start my new job how long before tsp would start can i take a loan out right away?

yes i might take the job in Saudi Arbia but i want that to be my last resort. Thanks in advance.
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