Thursday, April 15, 2010

How long does it take to cash in on a 401k if you are purchasing a home?

How long does it take to cash in on a 401k if you are purchasing a home

How long does it take to cash in on a 401k if you are purchasing a home?
not a good move to make...but if you're going to do it it can take anywhere between 5 days to 3 weeks. You'll have to ask your HR person how long it takes your plan specifically.
Reply:More important, you are cashing in your retirement to purchase a home. You should be more concerned with the penalties you will have to take for drawing on this early, as well as the tax ramifications of doing so.
Reply:www.401k.org. Check your plan provisions.


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