Can I Cash Out My Roth 401K?
1045 POINTSview profileKarl RenwanzRenwanz Insurance & Financial Solutions, Carlsbad, CABecause your Roth 401k contributions were from after-tax dollars, you can withdraw your contributions to the account without facing penalties or taxes. Withdrawals beyond the level of your contributions, can result in a penalty and taxes if you are under 59 1/2 and have not had the account for a minimum of 5 years. There are some hardship exceptions to the age rule.Answered on October 16, 2014flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA Roth 401(k) is still a 401(k) and money cannot be withdrawn from the plan except as the employer’s plan provides for such withdrawals. The provisions of a Roth IRA do not apply and you should check with your employer to determine the applicable procedures. The plan’s provisions will govern any withdrawals.Answered on April 9, 2015flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
