401k borrowing penalties,stock markets,trading for a living elder - Try Out

11.06.2015 admin
If you have been deemed to be disabled either buy an insurance company or Social Security, then you are entitled to withdraw from your 401k penalty free.  You’ll have to provide a disability letter to your 401k custodian to verify your status and avoid the penalty.
And if you think that I had to tap my 401k to pay for my son’s emergency room visit, get your head out of the gutter.

As you can see, there are ways to tap your 401k penalty free.  Just make sure you follow the rules.
This actually happened to my father in law as his company went through a buyout and he was offered an early retirement package at the age off 55.  We ended up taking a distribution from his 401k to have some cash on hand and then rolled the rest into his IRA.

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