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re: 401k - loan vs complete withdrawal?
Posted on 12/18/21 at 6:43 pm to Horsemeat
Posted on 12/18/21 at 6:43 pm to Horsemeat
On a withdrawal, you may qualify for a medical hardship to waive the 10% penalty. Still looking at paying around 30% in taxes. You have to do what you have to do though.
Best of luck to you.
Best of luck to you.
2
Posted on 12/20/21 at 6:48 am to HogBalls
quote:Yeah this will be my last resort from my personal finances, my company has already sent me the paperwork for our assistance fund which I will use if my savings run out before i go to the 401k - mainly because I donated a bunch to it over the years.
You have to do what you have to do though.
Posted on 12/20/21 at 12:14 pm to HogBalls
Taxes should be at regular income tax rate not 30%. They may withhold that much but if you haven't been working I assume you'll be in a low bracket.
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