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Does anyone know what are the penalties to pulling money out of a 401K or 403B retirement account? Mine is with Fidelity.

Thanks,

John
 

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Does anyone know what are the penalties to pulling money out of a 401K or 403B retirement account? Mine is with Fidelity.

Thanks,

John
Not being a financial adviser, I do know that the IRS will want 10% as a penalty and whatever tax bracket the amount takes you to, the taxes on that. I did it after I left a job and wow it stung, but on the other hand my employer was matching 1 to 1, so it wasn't all my money that was put in, if you will.
 
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