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OverCastle28 OP t1_j6otirn wrote

Reply to comment by PM_Georgia_Okeefe in What is my IRA account number? by OverCastle28

I need money for bills/groceries, I’m pretty sure since I’m now “terminated” from that job I lose the money?

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manwnomelanin t1_j6otrqe wrote

It depends on if your employer was contributing and, if so, whether or not that money was vested before you left

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PM_Georgia_Okeefe t1_j6oubok wrote

The 401K is yours. You can roll it into another 401K with a new employer or into a personally managed IRA.

Just realize that if you cash it out there is an automatic 10% penalty and then it will be subject to income tax next year.

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OverCastle28 OP t1_j6ouoeh wrote

So should I do personally managed IRA then? We’re not closing by March

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PM_Georgia_Okeefe t1_j6ouywy wrote

It's up to you. If you think you'll have a new job in the next few months, you can just wait and roll over.

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OverCastle28 OP t1_j6ov4vs wrote

I don’t think I will tbh. We’re not closing until April and I’d honeslty like to take some time off cause of my back

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