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Tractor Talk Discussion Board

Re: 401k.10% early withdrawl penalty? Who gets it?


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Posted by James22 on September 16, 2011 at 21:08:52 from (207.179.239.170):

In Reply to: Re: 401k.10% early withdrawl penalty? Who gets it? posted by dhermesc on September 16, 2011 at 13:25:22:

Don't think so but could be wrong. Believe it depends on how the company sets it up. Since we can retire from the company with a minimum fifteen years service at age 55, perhaps they were allowed to move the 401K non-penalty withdraw date to the same age. Don't know for sure but indeed it works. Unlike some of the others, I strongly encourage 401K contributions. With a lot of help from that asset, I was able to purchase farming parcels ranging from $1000-2300/acre and in this area they are now bring as much as $10,000/acre. Might not be able to duplicate this in today's enviroment, but the future is uncertain and if the opportunity again surfaces, a significant 401K nest egg would be a great enabler.


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