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#1
02-07-2007, 04:28 PM
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borrowing from a 401k
people say they borrow from their 401k to finance adoption. Question I have, mine says I can only withdraw for a hardship....defined as buying a house, medical and a few other reasons that I cannot seem to fit adoption into. Is this the NORM for 401k withdrawl? How do people get it for adoption if so.
thanks
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-pequele 
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#2
02-10-2007, 01:51 PM
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We are able to take loans and pay the loan back to our account.
 We can borrow half of what we have in our 401(K) and have 5 years to pay it back.
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Take care, Cyndi Keilin Kazakhstan Adoption Blogger http://kazakhstan.adoptionblogs.com/
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#3
02-10-2007, 03:26 PM
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Withdrawal
I had an IRA rollover of a 401-K and I just took early withdrawal and accepted the 20% penalty. It was still more than enough to finance my adoption.
A better course would be a home equity line of credit, but that wasn't an option for me this time. Good luck! Dee
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Proud Mom to Alesia, adopted from Russia in 2004, and her little brother Michael, adopted from Kazakhstan in 2007! See my blog: http://deescribbler.typepad.com/my_weblog/
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