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charles schwab ira withdrawal terms « IRA Financial Group Blog

IRS Issues New Retirement Plan Contribution Limits for 2012 for Solo 401K Plan

November 8th, 2011

Among the biggest changes is an increase in the annual contribution limit from $16,500 to $17,000 for employees who participate in 401(k),

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Hardship 401k Withdrawal

August 15th, 2011

A 401k is meant to be used as a savings tool to put money away for your retirement. In some cases, you may be able to withdraw money before you are 59 1/2 years of age. However, it is usually discouraged, except if you are in dire straits. If this is the case, you may be able to take a Hardship 401k withdrawal. To withdraw money from your 401k, you must be able to show you are in a hardship situation. Situations that would be allowed to take a Hardship 401k withdrawal would be eviction, foreclosure or difficulty in paying for your basic living expenses.

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