Candidate99
Jun 2, 2008, 07:45 PM
I was terminated from my job and do not know how long before I find another. I have $10,000 in a 401K from my past company. I was bringing home approx. $2100/mo and now will only have $1,000/mo. From unemployment until I find another job. I am 56 years of age so it is not going to be easy. Is there a way to cash in my 401K to offset the difference in my monthly income without paying the hefty penalties? Credit is not the greatest so a loan is probably out of the question.