Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Can you withdraw from your retirement plan? It's actually going to depend on what your retirement plan actually is. In most cases a provision allows for withdrawals from a plan, though the retirement plan participant may incur a 10% penalty from most plans for withdrawing funds. In some cases there may be more involved details.
A retirement plan actually is one of the last places to visit when looking for funds. There are some pitfalls to borrowing or surrendering from your retirement plans.
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A retirement plan actually is one of the last places to visit when looking for funds. There are some pitfalls to borrowing or surrendering from your retirement plans.