Hey there, not sure if this is the appropriate subreddit but if there’s any help I’d greatly appreciate it. Recently I’ve purchased my own home and decided to renovate my basement due to some flooding that I noticed. Well, as ironic as it seems, one repair lead to another and I found myself dipping further into my savings than expected - so much that I’m considering taking out a considerate amount from my 401k.
The problem is, I have no idea how to go about it. When I called they told me (to my understanding) they would write me a check and eventually it would be treated as a hardship loan. Does this seem correct? I understand it’s going to be taxed due to being well before the retirement age, but is there a way to approach this without having the money taken out as just taxed and not a loan?
If this is the wrong subreddit I apologize in advance!
Submitted December 17, 2018 at 10:53AM by Rod_Bunyan https://ift.tt/2Chmib1
