Simple question: can you sell off an employer provided 401K? Hard question: should you right now?

IBM
ChWh23

Go to company page IBM

ChWh23
Mar 19, 2020 12 Comments

Simple question: can you sell off an employer provided 401K i.e. is it possible? Hard question: should you right now?

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  • IBM
    EOGA43

    Go to company page IBM

    EOGA43
    Sure, but you absolutely shouldn't because you'd sell at a market low and you would take a penalty for withdrawing from a 401k before age 55.5
    Mar 19, 2020 1
    • RichRelevance
      Zodian

      RichRelevance

      Zodian
      This is the way
      Mar 19, 2020
  • Uber
    tacokahn

    Go to company page Uber

    tacokahn
    Probably. No. Pulling money out of a 401k early comes with taxes and penalties.
    Mar 19, 2020 0
  • IBM
    ChWh23

    Go to company page IBM

    ChWh23
    OP
    Not necessarily pulling cash out of the account but selling holdings and leaving capital in the account
    Mar 19, 2020 1
  • Staying long in the market is "timing the market" too.
    Mar 20, 2020 1
  • Do you mean get out of stocks? Probably yes, depends on your plan. And you definitely should not do that. Timing the market is super risky, unless you are over 50 it will recover eventually and keeping it out of the market too long will hurt the recovery
    Mar 20, 2020 0