You can generally take money out with no penalty (before 59 1/2) if:

You become totally disabled
You have medical debt that exceeds 7.5% of your gross income
You are required to give the money to a divorced spouse, child or dependent by court
You are separated from service and you have set up a payment schedule to withdrawal equal amounts over the course of your life expectancy.

You should check with the terms of your 401K, but that is generally how it works.

First... I am so sorry to hear of your illness, and will keep you in our family prayers. As far as your 401K... as long as you can submit evidence and Doctor bills, you WILL be able to collect on your 401K. Each company is set up with their own rules, and you should notify the company IMMEDIATELY that you have your 401K with... but Medical illness with financial burden is a definite way to collect! We wish you the best... we wish this with all our heart!

Is needing money because of chapter 13 bankruptcy reason for hardship withdrawal?

Is needing money because of chapter 13 bankruptcy reason for hardship withdrawal?

How do i make a withdrtawal form my 401k

I am on work comp, and need to withdraw my 401k, but my lawyer is saying that wc insurance could lower my insurance payments if i take that money is this true?

I am 79 years of age. When can I take my Minimum Required Distribution for 2011.

Sanitarium212, you can take your 2011 Required Minimum Distribution at any time during the year. Most retirement plan trustees don't have the information in early January -- you have to know the account balance on the last day of 2010 to figure out the 2011 RMD -- but if you can figure out what the amount should be, you can certainly request it in January.

Can i take my 401k completely out