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do i have money in my 401k and how can i get it out?

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  • do i have money in my 401k and how can i get it out?


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Answer #1 | 21/12 2013 20:43
Your 401k is a retirement account. There will be a penalty if you cash it. What you want to do is open an IRA and do a transfer in kind from your 401k into your IRA. The company you open the IRA with will do the transfer for you.
Positive: 79 %
Answer #2 | 21/12 2013 20:53
David is right except that you cannot do a transfer in kind from a 401k to an IRA since they are separate custodial products; it has to be done as rollover.
Positive: 73 %

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