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I have a 401k with Winston brands could I withdrawal $?

Dec 03, 2015 by Ricardo in  |  Flag
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Hi Ricardo,

Unfortunately, I will need more information to accurately answer that question. Mainly, are you still working for Winston? If you are, most 401k's will allow you to take a loan of 50% of the balance up to $50,000. This is not true of all plans, but most. Speak with human resources.

If you are no longer working for Winston Brands, you can roll over the 401k to an IRA and then take it as you wish. Just remember that if you are under 591/2 years old, you will pay a 10% penalty on any withdrawals. Regardless of your age you will pay income taxes on any distributions.

Comment   |  Flag   |  Dec 07, 2015

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