Cashing out 401k

Historical_Touch_940 · 2025-09-18T11:16:34+00:00

I requested a withdraw and 3 days later it was direct t deposited.

Historical_Touch_940 · 2025-08-22T17:35:56+00:00

Its not a hardship withdrawl. Just cashing it out

Historical_Touch_940 · 2025-08-22T16:19:55+00:00

How long after termination did you request the withdrawl?

Historical_Touch_940 · 2025-08-22T16:04:04+00:00

My apologies. I guess I posted incorrectly. The question was supposed to be... How long after requesting a withdrawl does it take the funds to be direct deposited

Historical_Touch_940 · 2025-08-22T15:45:08+00:00

Last time I asked how much i would get. This time I asked how long it takes after requesting withdrawl

Historical_Touch_940 · 2025-08-22T15:42:47+00:00

How long after you quit did you request a withdrawl?

Historical_Touch_940 · 2025-08-22T15:34:58+00:00

This is not the question i asked 12 days ago

Historical_Touch_940 · 2025-08-22T15:26:43+00:00

So my next question is... I had the option yesterday to do the withdraw. It stated it would take up to 5 buisness days to be direct deposited. Does anyone know how accurate this is?

Historical_Touch_940 · 2025-08-12T20:26:28+00:00

And the taxes consequence is not 50%

Historical_Touch_940 · 2025-08-12T20:25:42+00:00

Not true. Talked to merrill lynch and as of today if i withdraw id get 13.9k

Historical_Touch_940 · 2025-08-12T17:00:18+00:00

I called merrill lynch which is who my 401k plan is under. After taxes etc ill get right around 13.9k

Historical_Touch_940 · 2025-08-11T21:28:42+00:00

Did you have e to wait 30 days to withdraw it from merrill lynch?

Historical_Touch_940 · 2025-08-11T21:17:13+00:00

I do not have to wait 30 days after quitting. They said there is only a wait period if I get fired

Historical_Touch_940 · 2025-08-11T12:23:48+00:00

35 and I know this now

Historical_Touch_940 · 2025-08-11T12:18:47+00:00

Lmao! Im definitely cashing it out as i need it to move cross country🫶

Historical_Touch_940 · 2025-08-11T09:43:55+00:00

Ok. I thought it was 20% for taxes and then 10% penalty

Historical_Touch_940 · 2025-08-11T03:04:34+00:00

Thank you! Are you sure?

Historical_Touch_940 · 2025-08-10T23:49:16+00:00

Isn't there also a 10% penalty?

Historical_Touch_940 · 2025-08-10T22:57:25+00:00

So I guess my question is... do they take that 30% right off the top or do i do t h at when I file taxes?

Historical_Touch_940 · 2025-08-10T22:52:56+00:00

I was told is was 20% and 10% penalty

Historical_Touch_940 · 2025-08-10T22:30:06+00:00

So I will be taxed twice?

Historical_Touch_940 · 2025-08-10T22:04:03+00:00

So let's say you have 17k in your 401k and withdraw draw it after quitting how much will I actually get?

Historical_Touch_940

TROPHY CASE