591/2, I recently read you can take distributions without penalty at 55. articles.moneycentral.msn.com/RetirementandWills/InvestForRetirement/jobless-what-to-do-with-your-401k.aspx
Yes you can. Please refer to fidelity's website on how to proceed.
The 401k passes intact to his heirs, with the same penalties if they are not of age (59 1.2) to withdraw it as cash. He can allocate it to specific beneficiaries or describe the distribution in his will.
The IRS do not specify an actual age that the 401K mist be withdrawn. The longer it is left then the more money it will accrue. Therefore it is a good idea to keep it as long as possible.
No. They can tax it if you withdraw from it, but borrow no.
A 401k plan is a retirement plan. Unlike a savings account you can withdraw money instantly but for a retirement plan you cannot touch that money till you reach the recommended retirement age.
You can generally withdraw from a 401(k) penalty-free starting at age 59½.
Yes, you can begin withdrawing from your 401(k) penalty-free after age 59 1/2. However, if you wait until age 68 to withdraw, you may be subject to Required Minimum Distributions (RMDs) which are mandatory withdrawals starting at age 72. It's important to consult with a financial advisor to understand the tax implications and rules related to 401(k) withdrawals in retirement.
You can, but you will be fined.
You can start withdrawing from your 401(k) penalty-free at age 59 1/2. However, if you withdraw before age 59 1/2, you may be subject to a 10% early withdrawal penalty in addition to income tax. After age 64, you can generally withdraw from your 401(k) without penalty.
when you withdraw the money, yes.
Yes you can. Please refer to fidelity's website on how to proceed.
The 401k passes intact to his heirs, with the same penalties if they are not of age (59 1.2) to withdraw it as cash. He can allocate it to specific beneficiaries or describe the distribution in his will.
The IRS do not specify an actual age that the 401K mist be withdrawn. The longer it is left then the more money it will accrue. Therefore it is a good idea to keep it as long as possible.
No. They can tax it if you withdraw from it, but borrow no.
A 401k plan is a retirement plan. Unlike a savings account you can withdraw money instantly but for a retirement plan you cannot touch that money till you reach the recommended retirement age.
sorry but no it is almost impossible
The MAX amount you can draw is 300k.