870-Friday Q&A: 60-day Rollovers, Digital Nomading, Childcare, Cash-Out Refi, Etc.
Radical Personal Finance
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Is It an Option to Get a Wenk Loan?
Senseal: I would rather you do a for a wenk loan, if you can do that after having separated from service. However, yes, if you need the money, then you can take the money out. And if you can get it into the next plan before the 60 day expires, then there are no adverse tax effects. But they are going to deduct the 20 % taxes if you do that,. and so you have to plan that in as well an d make up the taxes in order for you to meet the roll over. So i would prefer you to a four o one k loan if you can doing that.
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