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	<title>New answer on: Can You Cash Out A Retirement Plan?</title>

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		<title>By: Tim Wilhoit</title>

		<link>http://insurancelibrary.com/retirement-plans/can-you-cash-out-a-retirement-plan</link>

		<dc:creator>Tim Wilhoit</dc:creator>

		<pubDate>Thu, 19 Jun 2014 13:05:53 +0000</pubDate>

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		<description><![CDATA[Certainly if it is your retirement plan you can cash out. However, there are many things to consider. If you are younger than 59.5 years old you will incur income taxes and a 10% penalty plus the fees associated from companies and advisors who will charge withdrawal fees and surrender charges. It is not advised just to &quot;cash out&quot; a retirement plan at any age. I highly recommend finding a trusted advisor to walk you through this process.]]></description>

		

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		<title>By: David Racich</title>

		<link>http://insurancelibrary.com/retirement-plans/can-you-cash-out-a-retirement-plan</link>

		<dc:creator>David Racich</dc:creator>

		<pubDate>Sun, 30 Jun 2013 01:24:26 +0000</pubDate>

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		<description><![CDATA[It’s your money, but there may be tax consequences and future ramifications. Any qualified plan monies will be taxed as ordinary income tax. The cashing out of your plan may elevate you into a higher tax bracket. If you cash out before age 59 ½, there will be an additional 10% penalty. If you&#039;ve borrowed from the plan, you may have to pay back the loan before cashing out.
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