Posted 7/4/2020 15:49 (#8353790 - in reply to #8353786) Subject: RE: Taking money out of 401k with no penalty??
JohnDean - 7/4/2020 15:46
Wreckless - 7/4/2020 15:13
I think there was a provision in the Cares Act to allow penalty free withdrawals but you still have to pay the tax.
Which is true, but tax rate is higher than interest rates right now. Why would you withdraw from 401k and pay multiple times more in tax than in interest on current loan?
for some, the feeling of being debt free is pretty important, mentally rewarding,
Taking money out of 401k with no penalty??
