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taking money from 401

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Money Talk > Retirement Planning

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Cash: $ 2.95

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Joined: 24 May 2012

taking money from 401  Reply with quote  

Hello everybody, I need help again, and I hope will find it over here again, thanks in advance .

I have to pay to my ex huge for me money, 32k to my ex , finaly removing him from our house .

The only money I have is my 401, about 50k . I have also small traditional IRA account with Vanugard.

I am extremely consider with taxes which I will have to pay gathering this cash .

Please advise , what is better, to take strait from 401, or roll over to IRA account first ?

Ir seems to me like second option is "cheaper ", but I am still afraid that something what I do not know can hurt me in the long run . Please tell me what you would do in my situation .

I am 66 years old

thank you eva
Post Thu Jan 25, 2018 9:26 pm
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