I just had a talk with my wife about this as well. Do we pull it, knowing that it’ll get hit with the 10% fee. But then put it back in after the market is absolutely crash? Like…I’m assuming it’s going to get a lot worse …
You can transfer it to an pre-tax IRA with no penalty. I found an IRA at a credit union that is NCUA insured (similar to FDIC) which means it can’t lose money. The interest rate is low, though.
I just had a talk with my wife about this as well. Do we pull it, knowing that it’ll get hit with the 10% fee. But then put it back in after the market is absolutely crash? Like…I’m assuming it’s going to get a lot worse …
I didn’t take it out, I sold the whole thing and bought foreign stocks. So I wasn’t investing in rhe U.S. market.
You can transfer it to an pre-tax IRA with no penalty. I found an IRA at a credit union that is NCUA insured (similar to FDIC) which means it can’t lose money. The interest rate is low, though.
Can you transfer it back afterwards?
That’s not how a 401k works. You can’t just freely put money in to it.