401ks & IRAs

The IRS does not really want you to take money out of your 401k until you retire. They make this crystal clear by immediately taking a 10% cut (off the top) of any early withdrawals you are...

In an effort to secure their future, many people invest in an individual retirement account (IRA) or a 401k account. However, there might come a time when the individual encounters financial...

When you invest money in an IRA it's with the understanding that funds in the account are supposed to stay there (with a few exceptions) at least until you turn 59 1/2. However, anyone may find...

Everything I am about to tell you might be wrong, but I doubt you'll find a better effort on the internet or anyplace else trying to explain the ins and outs of 401k withdrawals for medical...

Individual retirement accounts, or IRAs, are tax-deferred retirement savings accounts. Dollars in these accounts are deposited on a pretax basis, meaning contributions are deductible against...

Most retirement plans provide for distributions in the event of financial hardship. Plans that provide this elective may have specific criteria for withdrawals, such as medical or funeral...

Saving into a 401(k) program is one of the most popular forms of retirement savings in the United States. 401(k) programs are qualified defined benefit plans, and there are particular IRS rules...

Avoiding hardship withdraw penalties with a 401(k) involves making sure the hardship falls under the IRS guidelines for an emergency financial need, such as funeral expenses, college tuition or to...

Accessing 401(k) contributions in case of an emergency is possible without penalties when the situation is an IRS-deemed hardship or disability. Avoid penalties when withdrawing form a 401(k) with...

The 401(k) plan, an employer-sponsored retirement savings account, is an easy way to save money for retirement. Contributions are normally deducted from the paycheck and placed into an investment...

Avoid the penalties by paying back the loan. When you borrow from your 401-k, you have to make payments back with interest that goes right to your plan. There are no penalties or taxes when you...

If you find yourself suddenly needing quick cash, think about borrowing from your 401k. The interest you pay will be to yourself. If you withdraw the funds, remember that a withdrawal can bring...

Many people, at one time or another, fall on financial hard times. Unexpected medical bills, lost jobs or other events can lead to financial stress. You might elect to take a hardship withdrawal...