[Homestead] Take cash from bank / Roubini
don.bowen at earthlink.net
Tue Sep 16 09:50:58 EDT 2008
> I believe after normal Fed & state taxes the penalty for early withdrawal
> on a 401k is 10%. The 401k company can tell you, call the 800 line and ask
> the rep that answers.
You pay a 10% penalty of early withdrawals plus you have to pay income tax
so total could be 40%.
One option is to roll it over to an IRA.
Don Bowen KI6DIU
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