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Category: 401(k)

Your 401(K) Isn't Your Only Option

By Lineweaver Financial Group
October 03, 2017 Category: IRA, 401(k), Retirement, Retirement Planning

Youve heard it over and over again, from many places never, ever make an early withdrawal from your 401(k), unless its an emergency. And, we agree - thats often good advice. But there are a few exceptions where an early withdrawal may be to your advantage. Some companies allow active employees participating in a qualified employer-sponsored retirement plan to withdraw a portion of their account balance upon request, without demonstrating a specific financial need, usually at age 59 . This is called an in-service, non-hardship withdrawal. One reason you may want to consider this option is that by rolling over a portion of employer-sponsored retirement plan assets to a rollover IRA, you may be able to significantly expand your investment choices, especially if you have limited choices in your employer-sponsored retirement plan. 401(k)s typically offer limited fund options to participants. Spreading the risk among a group of investments is generally a good thing when saving for the long

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