Lowes 401k Plan s—s, just like the company I recently left. I agreed to take my money out rather than leave it in to a company I left. What s—s is you can only take your money in lump sum rather than partial distibution. Now I am going to get slammed with taxes. Thanks Lowes, great job
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Hire a retirement specialist. You can roll your money over and/oe learn of options you obviously don't know about.
everyone out here buying up Lowe's stock because they know it will only keep going up and this genius wants to dump it while being double taxed. hilarious
Your ignorance is not Lowe’s fault. You should have researched before making that mistake. Also it’s Wells Fargo not Lowe’s.
As someone else mentioned you should have just rolled it into a personal IRA or Roth IRA. This is pretty typical for a 401k and isn’t specific to Lowe’s at all.
I took mine to schwab. They refunded the fees Lowe’s Ira administrator charged and gave me $500 after 60 days.
Open a new IRA anywhere and do as you wish. I stuck with Wells Fargo. Only cost me $19 to move it.
You should have rolled the total amount into an IRA. You could then take partial distributions and pay taxes on just the distributions.