401k Money withdrawal vs Loan

[iddaritho]

Which is the best option either to pay tax and withdraw 401k money or Just take loan on it , Market place might be volatile in next few years 

so want to cash this money , which is the best option , what kind of tax will i be paying if i withdraw 

[nandananditha]

gp ltt

[tiru0453]

put it in money market..switch to no market in 401 temp

[Spartan]

Loan : 50% of ur total amount ke istadu loan. u pay interest to urself.
 

withdrawl: tax too much + 10% penalty. it is good if ur employer is matching whcih can go out for the tax+ penalty and u get ur money.

 

[iddaritho]

15 minutes ago, Spartan said:

Loan : 50% of ur total amount ke istadu loan. u pay interest to urself.
 

withdrawl: tax too much + 10% penalty. it is good if ur employer is matching whcih can go out for the tax+ penalty and u get ur money.

 

My employer is matching 50 % , upto 6% of my income and nenu total 6% contribute chesthunna 

 

But house buying ke withdraw chesthe penalty undadu anjkunta kada??

 

[Spartan]

3 minutes ago, iddaritho said:

My employer is matching 50 % , upto 6% of my income and nenu total 6% contribute chesthunna 

 

But house buying ke withdraw chesthe penalty undadu anjkunta kada??

 

adi kuda 1/2 of ur balance or 50K whichever is lower.

 

penalty untadi dani meeda kuda.

 

http://www.moneycrashers.com/401k-ira-withdrawal-down-payment-house/