https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 01 May 2026 13:16:55 +0000 https://boards.hellobee.com/topic/cash-out-retirement#post-2777625 Wed, 04 Oct 2017 14:27:39 +0000 Mrs. Oreo 2777625@https://boards.hellobee.com/ <p>@bushelandapeck: @Littlebit7: @SweetCaroline: Good enough! Thanks for the responses! </p> https://boards.hellobee.com/topic/cash-out-retirement#post-2777624 Wed, 04 Oct 2017 14:27:26 +0000 Truth Bombs 2777624@https://boards.hellobee.com/ <p>NOOOOOOOOOOOOOOOOOO. You'll get hit with taxes and a penalty. Roll it over. </p> https://boards.hellobee.com/topic/cash-out-retirement#post-2777621 Wed, 04 Oct 2017 14:19:45 +0000 SweetCaroline 2777621@https://boards.hellobee.com/ <p>No way! Roll it over or leave it there. You'll get hit with a 10% penalty for withdrawal. </p> https://boards.hellobee.com/topic/cash-out-retirement#post-2777614 Wed, 04 Oct 2017 14:07:23 +0000 bushelandapeck 2777614@https://boards.hellobee.com/ <p>I have a had a few of these small retirement accounts and just rolled each over into my current 401K. That's probably what I would do, if I were you. </p> https://boards.hellobee.com/topic/cash-out-retirement#post-2777613 Wed, 04 Oct 2017 14:06:45 +0000 Littlebit7 2777613@https://boards.hellobee.com/ <p>NO! roll it over to your new 401K if you have a new employer and you are able to (ask HR or whomever manages your current 401), or roll it into a traditional or roth IRA. Its super easy to do.<br /> $3500 is nothing to scoff at. If you cash out you are going to take a huge huge tax hit/penalty for early withdrawal. You will just be throwing money away. </p> https://boards.hellobee.com/topic/cash-out-retirement#post-2777605 Wed, 04 Oct 2017 13:55:58 +0000 Mrs. Oreo 2777605@https://boards.hellobee.com/ <p>I was at a job a few years back for a very short time, but had accumulated a whopping ~$3,500 in retirement. :wink: I continue to get notifications that I have this available (like a statement, but no changes in the amount).</p> <p>Would you cash this out? I don't even know or think this could transfer to my current job. I've been here almost 4 years now. </p> <p>Help! </p>