Paying for college, buying a house, starting a business or paying off debt are just some of the reasons a person might want to access the savings in their retirement account. A 401(k), 403(b), or pension are excellent ways to save for retirement. However, sometimes an expense or opportunity presents itself that requires cash flow, and for many, their money is tied up in a retirement account which can be challenging to access.
Various and complex obstacles prevent people from accessing the money tied up in their retirement accounts without heavy penalties. Employer plans make it easy to contribute to a 401(k) with pre-tax benefits and matching contributions, but when it comes time to actually use your money, there are so many rules, fees and penalties in place that the costs often outweigh the benefits. This can leave some people with no other options than to pay these fees and penalties, find another source of funding, or pass
A solution exists that allows you to access your retirement account while avoiding many of the rules and regulations associated with taking an early distribution. This involves a well known, often utilized legal process to access a retirement account by transferring the funds from one spouse to another. This process is completely legal, highly effective and often makes far more financial sense than paying heavy fees and penalties.