tag:blogger.com,1999:blog-8167053042750012698.post1085570640320627913..comments2012-12-13T01:34:10.286-08:00Comments on 401k Max Limits and Catch up Contribution-2013: 401K Withdrawals : Financial Consultation That Really Matters 401k Loanshttp://www.blogger.com/profile/11552498512284168244noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8167053042750012698.post-1995799118323889362012-12-13T01:34:10.286-08:002012-12-13T01:34:10.286-08:00Many people consider taking out 401k loans to buy ...Many people consider taking out 401k loans to buy a property or pay off other types of unsecured debts. But you should go for a proper planning when you want to <a href="http://www.mortgagefit.com/401k-403b-loans.html" rel="nofollow">take out a loan from a retirement account</a>. You should note that you will be able to borrow up to 50% deposited balance or $50,000 whichever is less. Apart from that, if you have taken out a loan in the past 1 year, then you will get the difference between the outstanding loan balance and what you have already received. Also, it is better to go for a loan from the account rather than going for a hardship withdrawal. This is because hardship withdrawal before the age of 59 and 1/2 years of age will require you to pay a 10% penalty.Sarahttps://www.blogger.com/profile/11069185279341452033noreply@blogger.com