- Joined
- Sep 12, 2015
- Messages
- 264
Hey guys!
So I searched the forums a bit and saw a lot of great info on the 401k loans and whatnot, but didn't see anything addressing my particular issue.
I'm in the process of moving and I'm having to break a pretty terrible lease to do so and I was hoping to borrow from my 401k to cover that expense. Does anyone know how/if I can do this while I'm no longer employed by the company? I never did anything with my 401k after leaving...it's just kinda been sitting there. Can I do a loan if I'm no longer with Target? Or would I have to cash it out? I understand I would take quite a hit on it- I'm not worried about that- the benefits would far outweigh the downsides in this particular situation.
Any help would be greatly appreciated!
So I searched the forums a bit and saw a lot of great info on the 401k loans and whatnot, but didn't see anything addressing my particular issue.
I'm in the process of moving and I'm having to break a pretty terrible lease to do so and I was hoping to borrow from my 401k to cover that expense. Does anyone know how/if I can do this while I'm no longer employed by the company? I never did anything with my 401k after leaving...it's just kinda been sitting there. Can I do a loan if I'm no longer with Target? Or would I have to cash it out? I understand I would take quite a hit on it- I'm not worried about that- the benefits would far outweigh the downsides in this particular situation.
Any help would be greatly appreciated!