[Fishrrman]

“Liquidate your 401k’s and take the hit.
It takes your funds out of a declining market and prevents the socialization of your PRIVATE retirement by Congressional Democrats”

How much can one _take out of_ their 401k account?
Is there a limit, percentage wise?
Or is it possible to cash the whole thing out, 100% (if you’re willing to absorb the penalties and taxes up front)?

I’ve got IRA’s created from _before_ the time of 401k’s. I’ve heard that any plan to seize 401k money would probably include IRA accounts as well...

- John

[TexasNative2000]

It may vary by plan and employer. Generally, you are able to liquidate 100%, but you will have to pay tax on the total, plus an additional 10% penalty.

If you have $50,000 in a 401k and you liquidate, you would give up $18,000 (at a 36% tax rate), plus another $5,000 (10% penalty).

You walk away with $27,000.