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If it is the 401k you go to Alight. I highly suggest you roll it to a IRA or your new employer. The 60 year old version of yourself will thank you
Why not roll it over to another employer or an IRA
C1, you will lose a significant amount of money in tax penalties. Do not withdraw that money.
If you withdraw the money and are under the age of 59.5, you will pay a 10% penalty and have to pay income taxes. It is more typical to just roll it into an IRA.
C1, if you want to proceed with the withdrawal, then contact Morgan Stanley directly
FYI there’s a penalty if you withdraw before 59.5 years old. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions
Dumb question on this, but is your only intention that you are going to withdraw the money and spend it?
Just an FYI, it would be cheaper to get a HELOC versus the 30% you are going to pay the government on this.
See if you can qualify for a hardship withdrawl before a traditional withdrawl. As everyone mentioned previously, a rollover is far preferable and your older self would thank you