QUESTION:

need the money

want to with draw one of the plans i have form another company to get out of debt can i do this? and what do i do since the company froze my plan and moved some were else?
asked by nana, 7/20/2008
Categories: Pensions, Rollover and Withdrawals
ANSWERS:
Answered by: Editorial, 07/27/08
Overall Rating: Be the first to rate it.

Well there are numerous factors to consider when contemplating a withdrawal from a 401k or IRA.

The most important consideration will be early withdrawal penalties. You will want to find out if the withdrawal penalties will be more expensive than the interest you are paying on your debt.

It also sounds like you should speak with a rollover professional to help you get your money out of the control of your former company.

NewRetirement can refer you to a pre-screened rollover advisor. Continue here:
https://www.newretirement.com/Services/Find_Rollover_3_Steps.aspx


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