Quote:
Originally Posted by kofficer
Has anyone done this? and if so, did you just ask for a check from your retirement fund, or did you do it differently from that? I am 65, and we will probably be using this money next year, when I am 66.
leeotampa
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Best to check with the entity holding your 401k account re: drawing on your 401k - they can certainly give you a definitive answer.
Be aware of the tax implications of 401k withdrawals.
If you want to lower your potential tax rate......and if the timing of your need for the money fits......consider splitting the withdrawal into two parts - the first towards the end of one year and the second at the beginning of the following year. That way it won't be such a big hit all in one year.
Bill
