What should I do with my 401k if I am 59.5 years old?

Answer by  JW (48)

You should keep it in the same investments that you have until you retire at age 65. You can take a lump sum out, however you will be charged taxes of 20 percent. You could also roll it over into an IRA if you do not like the investments offered in your 401K plan.

Answer by  cgroverla (516)

If you are separated from your job, you can take distributions from your 401k at age 59. 5 without penalty. If you are still working leave your 401k intact.

Answer by  Kurt (4579)

At age 59. 5 you should be moving your investments in your 401K to safer income producing investments ( bonds and government debt securities ) so that the principal will not fluctuate as much and will produce steady income for your nearing retirement.

Answer by  Anonymous

Go to Las Vegas play Double Diamonds Haywire