Wanting to take money out of 401k, does there need to be a reason?
Planning already on talking with my bank about withdrawing the money from my 401k, but curious if I have to tell them the reason for withdrawing? Also, do other people have to be notified, like IRS or any beneficiaries?
I’m aware there’s a penalty for early withdrawal.
This question is in the General Section. Responses must be helpful and on-topic.