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Andy4712, Consultant
Category: General
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Experience:  I have experience and knowledge as a consult to answer numerous questions regarding numerous issues.
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my question is I have over 80,000 in my 401k I am thinking

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my question is I have over 80,000 in my 401k I am thinking about moving my 401k out and investing elsewere I should not my any kind of penlty if I am right because I am 62 is this right

You can transfer the money to another retirement account by doing a trustee to trustee transfer without tax or penalty. Is this what you are thinking of doing?

Customer: replied 5 years ago.
yes to your question
Customer: replied 5 years ago.
,yes to your question

Then there is no penalty. I would talk to the plan administrator about getting the necessary forms to do a trustee to trustee transfer of the assets. I hope this answers your question. If not, then please reply.

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