401K - cashing out, penalties?

[Bowyn Aerrow]

Other option is to take out a loan against 401 and repay a little bit each month (I paid 40 dollars a month on 2 year loan 1000 dollars). If you go on line to who controls your 401 they show how much you can get as a loan and it is not taxed cause its a loan and you pay yourself back over time, Jim

Ah, well that sounds grand, thing is I do not have a job or income currently. I am in the process of switching from Ceo of my own company to 'the cripple next door'... If I had a job (thus an income), then I don't need SSD/SSI....

I will just have to tie myself to the rear bumper of my truck and put the truck in gear... Mind the truck doesn't run so I'm not going to get dragged that far.... :eek: :tongue: