Thread: Options
View Single Post
  #15  
Old 10-13-2009, 04:35 PM
ShadMan's Avatar
ShadMan ShadMan is offline
Westerly neighbor
 
Join Date: May 2009
Location: Houston, TX
Posts: 1,996
Cash: 3,060
Default

Quote:
Originally Posted by Gerald View Post
????? Early withdrawals

I believe there is an exemption on anything less than $ 10,000 taken out of an 401K plan. If you take out less than $ 10,000 from a 401K plan.....there is no 10 % penalty.

Is this correct?????
Only if the distribution was for a qualified reason (i.e. first-time home purchase, educational costs, etc.).
Reply With Quote