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I worked at nationals for yrs I put in to my 401k but now I Want to go to school I want to cash out what do I do?

Mar 12, 2016 by tony in  |  Flag
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Chad W Schiel Level 15

You always have the freedom to cash out your 401k or IRA. Just understand that taxes and penalties will apply. First find out why is your 401k custodian, Fidelity or American Funds for example. Call them up and navigate their prompts as directed. You will need to provide them with a bit of information and might need to sign a form to release the funds. My advise would be to take the funds out and then contribute it as a rollover to an IRA, by doing so you wont be taxed. Then take from the IRA only what is needed when needed to fund your education. If you have questions, just give me a call at the office.

Chad William Schiel Comprehensive Wealth Manager 635 Camino de los Mares #201 San Clemente, CA 92673 Phone: (949) 388-4455 Fax: (949) 388-4456

Comment   |  Flag   |  Apr 13, 2016 from San Clemente, CA

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