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Education
More bad news: Taking money out of a 401k, before age 59.5, is subject to a 10% penalty. 401(k) withdrawals for educational expenses do not qualify for an early withdrawal penalty waiver, but IRA withdrawals do.
Consider taking a loan form your 401k, instead.
Rolling over the 401k to an IRA (not Roth) first would avoid the penalty, but you'd still have the too much income problem.
‎April 15, 2024
4:51 AM