Self-Pay Using 401(k) - Simple Reminder
So if you decide to withdrawal from your 401(k) before your 58.5 years old to pay for surgery, don't forget there's a 10% early withdrawal penalty, plus you need to pay taxes on the amount you receive (my tax bracket is 15-20%). That means $40k quickly goes down to $30k in-hand after a 25% deduction. Be prepared! Just sayin. Good luck everyone!
DS on 04/17/13