Subject: Re: [Homestead] Take cash from bank / Roubini
Date: Tue, 16 Sep 2008 08:50:58 -0500
> 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%.