Published on September 4th, 2010 by Alan L Sklover
If you face financial hardships – including medical, college tuition or mortgage financial difficulties you can take either a “Hardship Withdrawal” or “Loan to Yourself” from your 401k savings. There are rules and limitations, but this may be a wise way to deal with truly difficult circumstances. For info, go to www.IRS.gov or consult with your tax professional.
© 2010 Alan L. Sklover All Rights Reserved. Commercial Use Prohibited.