Tax Lawyers Answer Your Questions About How to Access Your Retirement Account Funds Now
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In a previous webinar, Entrepreneur contributors Mat Sorensen and Mark J. Kohler broke down five strategies to access retirement account funds. Those strategies included taking a loan from your 401(k), now that you’re allowed to take as much as $100,000 from that account. You can also take an early distribution from your retirement account, which you can pay back over three years without having it considered a distribution. A riskier option called 60-day rollover allows you to take money out and (importantly) put it back in within 60 days.
Viewers had a few important questions about these urgent ways to access retirement account funds now, and in this video, Sorensen and Kohler address those questions directly in a 20-minute Q&A format. Check out the full video for more great financial advice you can use to get through these difficult times.Related: 8 Ways Business Owners Can Take Advantage of the Federal Stimulus Package