Q & A: How can I withdraw with 401K penalty or taxes to purchase ...

Question by Pablo : How can I withdraw with 401K penalty or taxes to purchase investment property ?
I would like to withdraw funds to purchase investment property and from my 401k. The 401K is with an old employer. What is the best way to get the funds without being penalized or paying taxes? Someone told me to transfer to on IRA account. Is that true?OK, I am 35 and married. Best answer:

Answer by Rich
No, its not. Penalties are very sever and costly if your not 59 1/2 or you have not had an IRA for at least 5 years, regardless of age.

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Source: http://www.lovefinanceinfo.com/2012/02/q-a-how-can-i-withdraw-with-401k-penalty-or-taxes-to-purchase-investment-property/?utm_source=rss&utm_medium=rss&utm_campaign=q-a-how-can-i-withdraw-with-401k-penalty-or-taxes-to-purchase-investment-property

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