Monday, April 6, 2020

401K money

Financial planners routinely advise clients not to take money from their 401K with the exception that some plans allow for loans in which case you can use the money for some other purpose with the caveat that you pay it back in the allotted time. Because of the virus you can now take money without paying the penalty and no tax if paid back within three years. This is worth looking into in this time of crisis.

No comments:

Post a Comment