Answers and Guides from Top Financial Advisors

0 votes
Thanks for your question. Typically, pensions do not allow loans. However, if you have a 401(K) then you should either review your Summary Plan Description (SPD) or speak with your Human Resources Director, because some 401(K) plans do allow employee ...(more)
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Amy, Assuming your 401(k) plan even allows loans the minimum is usually $1,000 and the maximum is the lessor of 50% of your vested account balance and $50,000. Understand that this is not really a loan. You would only be moving money from your retirement ...(more)
1 vote
Peter C. Karp Level 20
Cedric Withdrawing funds from your 401(k) depends on your particular circumstances. If you are still employed at the company you may be able to take a loan or hardship withdrawal if your plan allows for either of the those. Sometimes in-service withdrawals ...(more)
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Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
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Layton Jacob Cox Level 10
These guys nailed it. However, I'm sure the real reason you asked is because you would rather know if taking the lump sum makes more sense than taking the annuity payments. In order to answer that question, I refer clients to this free online calculator ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
Brian Kuhn CFP® Level 16
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those ...(more)
0 votes
John Essigman Level 12
Hi Gnessa, Very smart to be thinking ahead but be careful. Highly recommend that you engage a fee-only advisor to join into your conversation on planning. Are you referring to “budgets” in terms of your current standard of living or in terms of income ...(more)
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Ted Jenkin Level 18
It's odd today to be getting the runaround by a 401(k) provider. The statement should provide with an 800 number to call which will allow you to talk to a customer service representative or the name/number of the broker who is handling the plan. Either ...(more)
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