Taking money out of a 401(k) for a down payment can be trickier. “When the 401(k) has both a loan provision and hardship withdrawal provision, the participant must first use the loan provision before going to hardship,” Gordon says. ...
Question:I just lost my full-time job. Why won’t they let me take money out of my 401(k) to pay down the principal on my house? Question:I don’t get it. Why do I have to pay back a 401(k) hardship loan, when I’m the one who put the money into the 401(k) in the ...
Given how much we pay in FICA tax each year, all of us have a right to eventually collect Social Security. If the government didn't charge us a Social Security tax each year, we could invest the money, use the money to save up for a down payment on a house, or spend it to live...