I was recently let go from my job. My husband and I were planning to borrow from my 401k for our first home, now we can't. Can we rollover my 401k to his?
By Heath4111 from Hoboken, NJ
Depends on the amount, company, etc. You need to check with your HR dept that you left. If it is over a certain amount you can leave it alone, if it is with an outside company already ie Principal. Don't use it! You'll have to pay penalties and taxes that could use it all up anyway. It's hard not to be tempted but remember it's for retirement...not a short term investment. Best of luck!
Unfortunately I will be losing my job on Sept 14th. My company has a 401k plan that I have never contributed to, but they apparently have been putting money in it for me for the six years I have been here.
