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Updated over 8 years ago on . Most recent reply

Lane Kawaoka's profile image
Lane Kawaoka's profile image
Lane Kawaoka
  • Rental Property Investor
  • from Honolulu, HAWAII (HI)
  • Member since Sep 2, 2011

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Lane Kawaoka's profile image
Lane Kawaoka's profile image
Lane Kawaoka
  • Rental Property Investor
  • from Honolulu, HAWAII (HI)
  • Member since Sep 2, 2011
Lane Kawaoka
  • Rental Property Investor
  • Honolulu, HAWAII (HI)
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Personal Finance

Cashing out 401k loan

Lane Kawaoka
  • Rental Property Investor
  • Honolulu, HAWAII (HI)
Posted

Has anyone cashed out their 401k?  You would have to pay a 10% penalty plus you pay federal/state taxes.  Any comments is it too risky or risky not to do it?

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Mark Nolan's profile image
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Mark Nolan
  • Professional
  • from Carlsbad, California
  • Member since Nov 12, 2012

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Mark Nolan
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  • from Carlsbad, California
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Mark Nolan
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  • Carlsbad, CA
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Mark Nolan
  • Professional
  • Carlsbad, CA
Replied

To learn more about the 401k loan rules, see the following:

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-loans

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