: Cashing 401(k) including company match If I cash out my 401(k) account with my previous employer, will I be able to take both my contribution and the company match at the same time ? I assume I will pay 40% of tax (penalty

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If you are vested, then the money is all yours. Tax withheld will be 20%, which is standard, but at tax time you'll owe the difference, the 10% penalty plus your marginal rate, 25% most likely.

More than that, it's our job to talk you out of this. Why not roll it to the new company 401(k) or to an IRA?

Let me add a thought - including state taxes, say you clear 60%. Instead, you transfer to the new 401(k) and borrow 50%. You pay it back over time, and instead of trashing your retirement savings, you simply have a low interest loan. To yourself.