savings account without retirement?
Can you roll over a 401-k account to any other savings..ie. Keeog, Roth or other without retirement. Ive heard about hardships, but they do not cover pending anything (attorney fees) that Im running into . The safest one. Accoording to TRowe... I cannot make any withdrawl until I eather leave company or retire...
Public Comments
- no. not without the penalty and taxes
- a 401K can be rolled into a Rollover IRA without penalty. You cannot withdraw the money without penalty until you are 65, but you may have more control over it.
- I recomend rolling it over to a Roth in most situations, even though you will have to pay taxes. If you are not ready to pay taxes or if it is not best for your tax situation a traditional IRA is fine. There is great advice at daveramsey.com and endorsed local providers in financial services.
