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    Santafe126's Avatar
    Santafe126 Posts: 1, Reputation: 1
    New Member
     
    #1

    Aug 4, 2007, 03:15 PM
    I have been terminated from my job after 14 yrs. I am totally vested in my 401k but I have not found a job, therefore I need money to pay off some loans. Is there any way I can do this without penalty?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Aug 4, 2007, 06:08 PM
    Quote Originally Posted by Santafe126
    I have been terminated from my job after 14 yrs. I am totally vested in my 401k but I have not found a job, therefore i need money to pay off some loans. Is there any way I can do this without penalty?
    First, its not a good idea to piggyback your question on someone else's thread. I've requested that your question be moved to its own thread.

    The hardship withdrawals rules are very stringent. Unless you qualify for them, then no you can't get them without penalty.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692
    Expert
     
    #3

    Aug 4, 2007, 06:18 PM
    I have moved your post to its own thread. You did not state your age and other factors. But you can always take a loan out against it.
    SwtNSazy's Avatar
    SwtNSazy Posts: 1, Reputation: 1
    New Member
     
    #4

    Aug 7, 2007, 12:19 AM
    Is there anyway I can cash in my 401K for financial help?

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