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Can you withdraw my total amount of 401K after age 68?

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Is there an age limit on putting money in a 401K?

No, there is no age limit on putting money into a 401k. As long as you are still employed by the employer that sponsors the 401k, you are allowed to continue making tax-free c

How can you legally escape taxes if you withdraw from 401K and transfer to son?

Many plans allow employees to take http://www.answers.com/topic/loan from their 401(k) to be repaid with after-tax funds at pre-defined http://www.answers.com/topic/interest.

How much tax will be taken out from your 401k if you withdraw it all?

Mandatory 20% when you withdraw. There could also be a mandatory state tax withholding as well depending on which state you live. However, that may not be all the taxes you ow

Can you withdrawal funds from a 401k beginning at age 55 if you are retired at 55 without incurring penalties?

  First, the general advice is do not do this. Unless you have a detailed plan which enables you to have enough funds in retirement even after tapping your 401k early, do

Can you withdraw money from an 401k before retirement age?

Yes but not without paying the 10% early withdrawal penalty on the taxable amount of the distributions unless you meet one of the exception to the early withdrawal penalty. Th

Can you withdraw you 401k and receive unemployment benefits in Minnesota?

Pension or 401K payments: Payments from a 401K or other pension plan, will not affect your unemployment benefits if: you are subject to a penalty for early withdrawal;you rol

At what age do you have to collect from a 401k?

70.5 in most cases. If your plan adopted Pension Simplification and the employee is 70.5 and still working then the mandatory distribution is pushed back to when they retire.

How much can you expect to pay for early withdraw of a 401k?

 You are allowed to make withdrawals, for example, for certain  qualified hardships -- though you'll probably still face a 10%  early withdrawal penalty if you're under 59

Can you take a hardship withdrawal from your 401k if you owe the IRS?

You can, but, you would be better off arranging a payment schedule  with the IRS. That way, you pay no penalties, your savings stay in  place so they can grow, and if you ch