Retirement plan decisions made easy
When Can I Take Money Out of My 401k?
There are several times and ways you can take money out of your 401k. Here they are, with links to further information from our online course, The ABCs of Your 401k.
The three times that you can withdraw money are when you:
- Need a loan or a hardship withdrawal
- Change jobs
- Retire
Loans and Hardship Withdrawals
This is generally not recommended, but sometimes necessary in extreme circumstances. Get more information on ways you can take money out of your 401k. Go to Lesson 5.
Changing Jobs
Generally not a good idea, because of the taxes and penalty you will have to pay. Find out what those taxes and penalties will cost you. Go to Lesson 6.
Retirement
Not only may you, but the IRS says that you have to. Get more information on ways you can take money out of your 401k. Go to Lesson 7. Want to know how much you should withdraw? You'll find the answer on the page about How Much Should You Take out of Your 401k.
Get the Whole 401k Picture
Buy the book, The ABCs of your 401k written by renowned economist Dr. Bill Conerly.
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