I'm out on disability. I receive SSD benefits only. I was in a car accident, and my car was totaled. I can't afford a car, but I need one for doctors appointments mostly. Also, I'm also unable to afford my rent. I had a housing grant, but the property manager would not accept the bank draft. I also have a lot of medical bills. I'm going to have to move to a place that accepts the housing grant, but in the meantime I was thinking of accessing my 401k funds for a hardship withdrawl. Would this be a problem seeing I get SSD? I have about $10k in the 401k. I am no longer with the company. I don't know if that makes a difference.If I'm no longer an employee do I still qualify for a hardship withdrawl?
Withdrawing your 401k would not affect SSD benefits. SSD benefits are based on your earnings and SS contributions.
Answers and comments provided are for general discussion only. They are not to be considered legal advice nor create an attorney-client relationship.
No it would not be a problem if you are on ssdi.
The information you obtain from this website is not legal advice.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline