401K Financial Planning

chemist asked:

I am planning to work in my current position for two years and then go to school for a full time MBA graduate degree. Can I contribute to my company’s 401k plan now and then withdraw the amount after 2 years to fund my college expenses without being subjected to the additional 10% penalty ? For this to happen, do I have to roll over the 401k savings to an IRA first, and then make the withdrawal for college expenses ? Are there any expenses involved in this process ?


Question posted courtesy of: Pauline

cluelessblue asked:

My mom said her 401K was getting smaller and smaller and she is not sure why. So she was told to cash it in. Is that the right thing to do?


Question posted courtesy of: Brent