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The Trading Floor (Investing, Stocks, Bonds) Discuss investing and investments here! Do your own due diligence before investing. We are not responsible for any advice or recommendations within this forum!

 
 
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Old 10-13-2009, 04:28 PM
longsidelandry's Avatar
longsidelandry longsidelandry is offline
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Join Date: Jul 2009
Location: Delcambre, LA
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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?????
That would be great if that's the case because I have less than 10K in mine and I could really use it but I don't wanna pay all that penalty and taxes at the end of the year.
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