Saturday, March 17, 2007
Know Your Options
My wife and I were fretting the loss of her job since I had lost mine last year. We thought we were going to have to sell everything and start all over, but our financial advisor put our minds at rest. When we approached him to talk about cashing in our 401s in order to pay off our house, he came up with another option that not too many are aware of, using the 72T option.
You can find out more information about the 72T option by going to the website http://www.72t.net. Beware of the warnings not to use the option unless you have a knowledgeable financial advisor working with you. Using the 72T option enables you to draw from your 401k without the major penalties assessed when pulling large amounts of money from it.
You can find out more information about the 72T option by going to the website http://www.72t.net. Beware of the warnings not to use the option unless you have a knowledgeable financial advisor working with you. Using the 72T option enables you to draw from your 401k without the major penalties assessed when pulling large amounts of money from it.
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