Individual 401(k)s will have the same withdrawal rules as regular 401(k)s. The withdrawal rules for a Self-Employed 401(k) are identical to the rules for a traditional 401(k).
If you want to avoid a 10% early withdrawal penalty, you’ll need to keep the money in your account until you reach age 59½, but if you separate from service after 55 you may be able to make withdrawals penalty-free.
If you really need the money early, certain exceptions for disability, medical expenses, 72(t) annuitized distributions, and plan loans can allow you to sidestep the penalty. Withdrawals for any other reason, including hardships, are still subject to the penalty.
Even for the exceptions listed, you will need to read the fine print. Income taxes will be applied no matter when you decide to withdraw.
Generally speaking, as long as you or your spouse is earning taxable income, you can contribute money to an IRA
There are more than a few types of life insurance, and more are introduced as time passes. Term life is the most common
Price to Tangible Book Value serves as a conservative estimation of the value inherent in a share, without intangibles
A multiple is a measure of a stock’s value, calculated by comparing one metric to another. The most commonly used is P/E
Outstanding shares refers to all of the shares of company held in total, which includes all ownership - retail investors
An accelerated return note (ARN) is an unsecured debt instrument that uses derivatives to offer leveraged return
To accept a risk is to bear the burden of loss or replacement if an eventuality occurs that causes an asset to lose value
In its role upholding the Federal Reserve Act, the Fed oversees the operations and practices of member banks
The Dead Cat Bounce pattern appears when a stock’s price falls quickly but has a temporary “v-shaped” recovery
The Ascending Triangle pattern has a horizontal top line representing a resistance level, and an upward-sloping bottom