how do i get a loan against my 401k plan and pay back through my job ?

how do i get a loan against my 401k plan and pay back through my job ?
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i am on long term dis-ability and would like to withdraw all my vested monies from my t rowe price 401k and i need it now i am very sick what are the steps i should take immediately thank you hi,im edna wilson i would like to borrow 400.oo my 401k pls.pay back with job.
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Related questions

Is this a smart idea, to take a loan out of my 401k for?

Description : Is this a smart idea, to take a loan out of my 401k for?

Last Answer : answer:I think you should start a side fund, if you can, to save money for your venture, rather than to touch your 401K. I was in a financial pinch a while back for about the same amount of money and ... s something that can wait a month or two for you to pull together the money, I'd wait and save.

i was told from the 401k retirement that im with in order to file a hardship i have to take out a loan from my 401k is that true?

Description : i was told from the 401k retirement that im with in order to file a hardship i have to take out a loan from my 401k is that true?

Last Answer : That is not true. A hardship determination allows you to make an early withdrawal without paying a penalty. You will however have to pay normal taxes on it.

Can I take a loan with a mobile mortgage ? I need some money for a visa. I told one , you give me so much money with my mobile. If I can do my job then you will take the mobile. And if it doesn't work, I will pay all the money in three months. Is this type of transaction permissible ?

Description : Can I take a loan with a mobile mortgage ? I need some money for a visa. I told one , you give me so much money with my mobile. If I can do my job then you will take the mobile. And if it doesn't work, I will pay all the money in three months. Is this type of transaction permissible ?

Last Answer : This type of transaction will not be permissible. Because it is not permissible to get any benefit from the borrower in return for the loan. That includes interest. In the case in question, ... bin Masood agreed. That said , the conditional contract involves interest. (Sahih Ibn Hibban 1053)

Are there any circumstances where I can take an early withdrawal without penalty from a 401K retirement plan?

Description : Are there any circumstances where I can take an early withdrawal without penalty from a 401K retirement plan?

Last Answer : There are a number of restrictions and requirements regarding early withdrawals from a 401K. Additionally, the IRS regulations often change. Your best bet is to discuss your situation with your fund manager or consult with your tax professional.

What is the difference between a 401k plan and an IRA?

Description : What is the difference between a 401k plan and an IRA?

Last Answer : They are basically the same thing but have different names. The only other difference is will be the deductibility of the 401K compared to the IRA.

How do cash balance plans differ from a 401k plan?

Description : How do cash balance plans differ from a 401k plan?

Last Answer : A 401k plan invest your money for you. A cash balance may earn a small amount of interest but has no risk.

How can I cash in my 401K plan?

Description : How can I cash in my 401K plan?

Last Answer : You can cash in your 401K plan upon retirement or after a penalty before your retirement age.

Who can enroll into a 401K plan?

Description : Who can enroll into a 401K plan?

Last Answer : A legalized us citizen can enroll into a 401k plan

how can i get refunded for overcontribution to my 401k plan the previous year?

Description : how can i get refunded for overcontribution to my 401k plan the previous year?

Last Answer : Your 401k plan administrator will automatically reimburse you when you make an over contribution. You will also receive a form for tax reporting.

Can an employee's 401k plan be moved when the employee leaves?

Description : Can an employee's 401k plan be moved when the employee leaves?

Last Answer : An employee's 401k plan monies when that employee leaves the company can be cashed out or put into a retirement account.

How to Set Up a 401k Retirement Plan Without an Employer?

Description : How to Set Up a 401k Retirement Plan Without an Employer?

Last Answer : Not everyone works for a company that supplies its employees with 401k retirement plans. Many companies simply do not offer them. Other people may be independent contractors or small business owners. Whatever ... income than what was contributed into the plan during a certain part of the tax year.

Why should one rollover a 401k plan?

Description : Why should one rollover a 401k plan?

Last Answer : Many times, when you leave an employer, they may ask you to take your 401k plan with you, especially if the plan balance is low. In these cases, many people chose to rollover the 401k instead of cashing it out.

Can I roll over my 401k plan from my last employer to my IRA account?

Description : Can I roll over my 401k plan from my last employer to my IRA account?

Last Answer : Yes you can in fact do this. You will have to speak to the company who has your IRA and discuss with them the steps in order to do this.

How do you terminate a 401k plan?

Description : How do you terminate a 401k plan?

Last Answer : The details of how to terminate a 401k plan should be included in the plan itself. Depending on the plan there may be limitations or fines involved in actually terminating the plan itself.

Never Touch Your 401k Retirement Plan?

Description : Never Touch Your 401k Retirement Plan?

Last Answer : When something big comes up, such as the need for a new car, you may be tempted to use the money in your 401k retirement plan to pay for it. This is possible, but it is not wise. ... gratification of a new purchase quickly, but you will not have enough money to retire comfortable in the long run.

What is a 401k plan and how does it work?

Description : What is a 401k plan and how does it work?

Last Answer : A 401k plan is some sort of savings program and it involves forms. You must fill out these forms in order to apply for a 401k plan. It is a government program.

Can you explain what a 401k plan is?

Description : Can you explain what a 401k plan is?

Last Answer : A 401k plan is a retirement plan. Unlike a savings account you can withdraw money instantly but for a retirement plan you cannot touch that money till you reach the recommended retirement age.

What is the tax consequence of the 401k retirement plan?

Description : What is the tax consequence of the 401k retirement plan?

Last Answer : A good tax consequence of a 401k retirement plan is that you can literally save money as the funds that are ususally tax-free. If you withdraw from your 401k plan, there is usually a large penalty.

Who can I talk to about my 401k retirement plan?

Description : Who can I talk to about my 401k retirement plan?

Last Answer : You can talk about your 401k retirement plan to people that know about retirement or companies that deal with retirement. Basically it is best to talk to people that deal with retirement.

Would it be wise to use your 401K to pay off your house?

Description : Would it be wise to use your 401K to pay off your house?

Last Answer : Depends on the interest rate of your mortgage and if you'll incur a penalty for early withdrawal, but generally speaking, no. With regard to the early withdrawal penalty, the magic number is 59 and ½. Let' ... could earn more than 5% if you invest it. But as I say, YMMV, depending on your situation.

SHOULD I REDUCE 401K DEDUCTION TO PAY CREDIT CARD DEBIT?

Description : SHOULD I REDUCE 401K DEDUCTION TO PAY CREDIT CARD DEBIT?

Last Answer : If your tax savings and 401K investment return combined are higher than your credit card debt interest, then no.

can you close your 401k Just stop particpating cash out pay taxes and penality.?

Description : can you close your 401k Just stop particpating cash out pay taxes and penality.?

Last Answer : Of course you can. You just lose all the tax benefits.

If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Description : If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Last Answer : You still owe the estate. The court will decide who gets the money but the debt is property of the estate.

have fair crediit need a loan with time to pay it back?

Description : have fair crediit need a loan with time to pay it back?

Last Answer : have fair crediit need a loan with time to pay it back?

What if my client doesn't pay a loan back?

Description : What if my client doesn't pay a loan back?

Last Answer : Here are some of the effect:1. When anyone doesn't pay the bank loan their credit score goes down. Since they do not get a loan next time.2. The recovery team will recover the loan amount.3. Pan Card will be blocked for the tenure period.

The payback period is the period A. a project takes to pay back the loan taken to purchase the capital assets B. equal to the useful life of the machines C. a project takes to recover its initial cash outflow D. over which the project will be getting operating cash inflows

Description : The payback period is the period  A. a project takes to pay back the loan taken to purchase the capital assets  B. equal to the useful life of the machines  C. a project takes to recover its initial cash outflow  D. over which the project will be getting operating cash inflows

Last Answer : C. a project takes to recover its initial cash outflow

How can I find out whether I have a 401k from an old job?

Description : How can I find out whether I have a 401k from an old job?

Last Answer : There will be someone at the company designated as the 401K administrator, probably in Human Resources or Payroll. Call and ask who that is and speak to that person.

How do I track down a 401k from a previous job?

Description : How do I track down a 401k from a previous job?

Last Answer : Contact the accounting department for your ex-company.

I have credit card debt, and a 401k account from my last job that equals that debt, what are my options here?

Description : I have credit card debt, and a 401k account from my last job that equals that debt, what are my options here?

Last Answer : Are you sure about the $2k? I believe you lose more than that because you are looking at taxes + penalties for early withdrawal. I would try to negotiate with the credit cards to get a lower interest rate. Also, if you have any room, try to do a balance transfer (watch out for the transfer fee).

What are the tax consequences of a 401k rollover from my old job?

Description : What are the tax consequences of a 401k rollover from my old job?

Last Answer : A 401k rollover is an option that comes with very few tax consequences. If you setup the rollover incorrectly you could face tax liability that is unexpected.

i would like to withdraw my 401k i lost my job and have no income coming in so how i go about applying?

Description : i would like to withdraw my 401k i lost my job and have no income coming in so how i go about applying?

Last Answer : Simply contact the bank that manages your 401k. You will have some early withdrawal penalties but they will be able to handle this.

i got fired from my job. can i get my 401k?

Description : i got fired from my job. can i get my 401k?

Last Answer : You can get access to your 401K, but you will lose many of the tax benefits.

I was terminated from a job more than 10 years ago but was told that I could not get my 401k until the end of the fiscal year. The company has closed how can I obtain my funds?

Description : I was terminated from a job more than 10 years ago but was told that I could not get my 401k until the end of the fiscal year. The company has closed how can I obtain my funds?

Last Answer : Contact the administrator of the plan, not the your employer. Your quarterly reports will give you a contact number. If that company folded your plan would be taken by another company or held by the feds.

How to rollover a 401k after leaving a job?

Description : How to rollover a 401k after leaving a job?

Last Answer : You can rollover your 401K into any other qualified plan even if one is not offered by another employer. An employer offered plan is nice because there are generally no investment minimums. You can also ... options. It is usually just a matter of signing some forms after you have picked the fund.

Although I'm no longer employed, I have a 401K account through a former employer. Is there a way for me to continue contributing to that 401K account?

Description : Although I'm no longer employed, I have a 401K account through a former employer. Is there a way for me to continue contributing to that 401K account?

Last Answer : I am not a financial wizard or anything, but I’m pretty sure you can not continue contributing to that account. Have you looked into rolling it over into an IRA and then you can add your contributions to that IRA.

I was recently terminated because I informed HR of the discrimination I was recieving because I am a women (can't do my job, less pay, no OT) and I was terminated. Can I file a gender discrimination case against them?

Description : I was recently terminated because I informed HR of the discrimination I was recieving because I am a women (can't do my job, less pay, no OT) and I was terminated. Can I file a gender discrimination case against them?

Last Answer : Yes you can attempt to do this by contacting your local EEOC which stands for Equal Employment Opportunity Commision.

I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Description : I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Last Answer : Call the IRS and talk to an agent to find out your balance and how to enter a new agreement with them.

What's the best loan plan for schools?

Description : What's the best loan plan for schools?

Last Answer : Choosing the right repayment plan for your student loans is your first step toward meeting your financial goals. See which repayment option best meets your needs. These are Standard repayment, Extended repayment, Graduated repayment and Income-sensitive repayment (available only for FFELP loans).

Full form of PACS a) Price Agriculture Commission Society b) Plan for Agriculture Crop loan Scheme c) Primary Agricultural Co-operative Society d) None of these

Description : Full form of PACS a) Price Agriculture Commission Society b) Plan for Agriculture Crop loan Scheme c) Primary Agricultural Co-operative Society d) None of these

Last Answer : c) Primary Agricultural Co-operative Society

If you have a loan or credit card balance, and you pay over the minimum due, whatever you pay over goes directly to the principal, right?

Description : If you have a loan or credit card balance, and you pay over the minimum due, whatever you pay over goes directly to the principal, right?

Last Answer : answer:The longer you have the debt the more interest you pay as each month more interest is added. If you only pay the minimum you will have the debt for much longer and you will pay more interest. The ... . Even I you pay the loan of early you will stay pay the interest for the full loan period.

Is there a pay day loan company that gives loans to people who receive social security?

Description : Is there a pay day loan company that gives loans to people who receive social security?

Last Answer : answer:My Mother In Law was able to get loans on her Social Security Disability, so I suspect that you could. I believe she also used her car as collateral. She now has a certified payee who manages her money for her, so she doesn’t run out.

Why would someone pay $3,154 on interest on a new car loan when they could buy a decent used one for under that amount without a loan (or interest)?

Description : Why would someone pay $3,154 on interest on a new car loan when they could buy a decent used one for under that amount without a loan (or interest)?

Last Answer : I buy new cars about every eight or ten years. I had my share of used vehicles when I was younger and spent a lot more than 3,000 on upkeep, repairs, replacing parts, etc. I have no idea how to work on ... tires, and brakes, then I buy a new one. I have never spent over 18,000 on a new car though.

Would it make sense for me to pay off a loan with another?

Description : Would it make sense for me to pay off a loan with another?

Last Answer : You should pay off the loan with the higher interest rate first.

How can there be enough money to pay for credit default insurance if the general rate of interest is too low to cover the risk of the loan?

Description : How can there be enough money to pay for credit default insurance if the general rate of interest is too low to cover the risk of the loan?

Last Answer : It has to do with fractional reserve banking and the extensive money (whatever that is) which is created by selling debt. Debt multiplies money held in reserves. The actual worthless paper dollars ... but I imagine their debt is insured by the same companies as the bank. Companies like AIG.

when you pay off a car loan & cancel gap insurance who returns the money for that?

Description : when you pay off a car loan & cancel gap insurance who returns the money for that?

Last Answer : Need Answer

when you pay off a car loan & cancel gap insurance who returns the money for that?

Description : when you pay off a car loan & cancel gap insurance who returns the money for that?

Last Answer : My best guess would be the insurance company would refund any money that paid for coverage time not used.

How to Obtain an Unsecured Personal Loan to Pay for College Expenses?

Description : How to Obtain an Unsecured Personal Loan to Pay for College Expenses?

Last Answer : If you need additional money for college, consider applying for an unsecured personal loan. Many students utilize personal loans to help pay for their college education. Even if you currently receive federal ... on your credit report, the lender may be hesitant to approve your loan application. So,

what type of grant would help to pay off about $35,000 mortgage loan for senior citizens?

Description : what type of grant would help to pay off about $35,000 mortgage loan for senior citizens?

Last Answer : what type of grant would help to pay off a mortgage of about $35,000 loan for senioir citizens?

How can I pay my mortgage loan on-line?

Description : How can I pay my mortgage loan on-line?

Last Answer : “How can I pay my mortgage loan on-line?”

if i have a loan at simple intrest of 16.99% and i wanted to pay off the loan in cash today would i still have to pay 11,000 or would a large amount of the intrest fall off just like a mortgage. citi finance tells me intrest payoff and cash payoff equa?

Description : if i have a loan at simple intrest of 16.99% and i wanted to pay off the loan in cash today would i still have to pay 11,000 or would a large amount of the intrest fall off just like a mortgage. citi finance tells me intrest payoff and cash payoff equa?

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