401k
what would be a good investment if you take out some of your 401k money without paying 20% penalty. I would appreciate any advice.
Terry Says
First, get your facts straight. If you’re under age 59-1/2 there is an automatic 10 percent penalty for taking money out of your 40l(k). AND you’ll pay ordinary income taxes now on the withdrawal.
Second, DON”T DO IT! Leave the money in there, and choose among the investments provided. Your money in ide the plan will grow tax-deferred until you retire. You’ll need it then! There is NO better investment!
