401K transfer to borrow help

[Maria Muniz]

Does anyone know what type of account you can transfer your 401k to, and then borrow from it/ pull from it? Without any penalties? I know I heard it’s possible, I just can’t seem to find out the right way to go about it. I tried calling fidelity and it wasn’t any help.

[Dorothy Butala]

@Maria Muniz sounds like you are looking for info on a self-directed IRA. The big brokerages (think ones that deal in stocks and mutual funds) rarely have the ability to be self directed. There are other places like Midland Trust, Equity Trust and some others that solely deal in the self-directed space. Are you looking to be a private money lender, lend to investors as a passive investor or use the money yourself?