Archive for the ‘money bank’ Category
what do i do if my client cannot get further funding from the bank and inturn refuses to pay the money owed?
Thursday, August 20th, 2009How long does it take to transfer money from your bank account to your paypal account?
Tuesday, August 4th, 2009Can I use 401k Hardship Withdrawal if I have money in the bank?
Friday, July 31st, 2009I would like to buy a house, say for 100K. I want to put 20% down and I do have 20K in my checking account. But I would rather take 26K (20K minus tax and penalties) out of my 401K even if I can afford it.
JPMorgan and IRS say I can take out (Not borrow, you don’t have to pay it back) money out of my 401K under the “Hardship Withdrawal” for the downpayment only. Will I qualify since I could afford the 20K downpayment with my checking account? In other words, must I legally pay off my downpayment with my cash at hand before dipping into my 401k?
I can’t find any of these details online. I already know all the pitfalls of a Hardship Withdrawal versus loans etc.
Great answer Ryan M. You mention a 10% penalty off the bat…where does that come from? I called JPMorgan and they said there is no penalty under my plan. Just taxes
By: checkster2005









