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Subject:  Re: Best 401K for my needs Date:  10/23/2018  12:33 PM
Author:  aj485 Number:  26159 of 26299

Ok, to make a long story short, I did something stupid....I went with a 401K that my employer is linked with, Fidelity. Apparently they are scammers and cons. I never expected to need money for a surgery, but thats what I need. I don't make the money to pay for this surgery on my own, and I don't have any other means...and the medical insurance I have is craptastic, as they won't pay for the surgery unless I cough up $1,000 plus 20% of the surgery bill upfront.

I went to my 401K to withdrawl enough to cover this, and was told "NO"! WTF?!!! I'm in need of a surgery that could save me from getting an infection in my foot, possibly causing me to lose my foot or leg, and they are telling me I can't have any of MY MONEY! There is more than enough money in my account, and it's not like I want ALL of the money in my account.

Sorry for your troubles.

Please be aware: Your employer is the one setting the rules for the 401(k) plan. Fidelity is only implementing the rules as your employer has told them to do. So, I would say that your beef is more with your employer than with Fidelity.

While I am fighting this corruption, I'm wondering if there isn't an HONEST 401K organization out there who will let you withdraw your money when needed, and not harass and persecute you because you need access to YOUR MONEY.

Are there any HONEST, TRUSTWORTHY 401K organizations out there who will let you have access to your money when you need it for things like medical issues without harassing and persecuting you because you want your own money?!?

As you were told in previous threads and where you were ranting about corrupt 401(k) providers and 401(k) scams, the only 401(k) that you can sign up for is one that is associated with your current employer. So trying to seek a 401(k) provider other than the one that your current employer provides is pointless.

As far as being able to get your own money without having to follow the rules your employer has put into place would be to quit your job. Then you could access the money and roll it over or withdraw it, as you see fit. Just be aware that if you are under 59 1/2 and don't meet any of the criteria for waiving early withdrawal penalties, you will end up paying income taxes at your marginal rate, plus a 10% penalty, on any amount withdrawn. You can see the penalty exceptions in IRS Pub 590-B

Good luck!

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