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Mar 29, 2024
5:48
:59
pm
byucougarsbig12
All-American
If you can replace it in 60 to 90 day just wait 60 to 90 days. If you remove
money from your 401K you lose the growth on that money. The markets are poised for a bull market, now it not the time.
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byucougarsbig12
Previous username
delete_king
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byucougarsbig12
Joined
Apr 16, 2015
Last login
May 13, 2024
Total posts
7,557 (43 FO)
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Messages
Author
Time
401K Withdrawal question and time to payback
compcoug
Mar 29, 5:35pm
You can do a withdrawal from an Ira and put it back within 60 days. Not sure
VenturaCoug
Mar 29, 5:37pm
Just googling the 60-day rule and it looks like it applies to 401ks as well.
VenturaCoug
Mar 29, 5:38pm
Just pull a loan from your 401k and then pay it back whenever. It’s easy.
RdF3
Mar 29, 5:42pm
Ignore all the misinformation in this thread. Your easiest answer is to pay the small fee and do a 401k loan.
RdF3
Mar 29, 5:52pm
60-day rule is not misinformation. Commonly known loophole. If he
VenturaCoug
Mar 29, 5:56pm
The risk of not getting it back in time & a potential mandatory withholding isn’t worth saving the $50 origination fee
RdF3
Mar 29, 6:00pm
I agree but it’s not misinformation to say it’s an option.
VenturaCoug
Mar 29, 6:01pm
There’s misinformation in this thread and surely more will be posted. Recommending the 60 day rollover is bad advice too
RdF3
Mar 29, 6:05pm
I’ve done it before. Worked great. Not bad advice. I’m a tax attorney myself.
VenturaCoug
Mar 29, 6:06pm
And for the record I didn’t recommend it. Just said it was an option. I agree
VenturaCoug
Mar 29, 6:17pm
Leave your 401k there. Pretend it does not exist.
King of Y
Mar 29, 5:47pm
If you can replace it in 60 to 90 day just wait 60 to 90 days. If you remove
byucougarsbig12
Mar 29, 5:48pm
Don’t do a 60 day rollover from 401k they will automatically w/h 20% for fed tax
Cougz19
Mar 29, 6:51pm
Didn’t know that re 401ks. Good to know.
VenturaCoug
Mar 29, 7:04pm
You should call Dave Ramsey and ask him. Come on. It would be fun! 😛
Cougar Junkie
Mar 29, 7:16pm
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