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Thread: New and Probably Posting in wrong section-Regarding 457 retirement plans

  1. #1
    Member
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    Dec 2006
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    Monterey/CA
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    New and Probably Posting in wrong section-Regarding 457 retirement plans

    Hello,
    I can't seem to find the correct forum (if it exists) to ask this question. As I was reading through some previous posts, I noticed a few regarding 401k, 457 plans.

    I have a client that I'm trying to help understand how their 457 plan works in relation to potentially using the funds or a portion of them for a down payment on a house. Does anyone know if it is possible to do this? Is it specific by state/county? We're in Monterey County, CA. Thank you and my apologies for not placing this in the correct forum. Any advice is appreciated!

    Segov

  2. #2
    Cyburbian nerudite's avatar
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    Aug 2001
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    Edmonton
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    I would suggest finding a forum on retirement plans, this is an urban planning forum. While many of us may dabble in finance, you probably want to talk to someone who keeps up with these things. Good luck.

  3. #3
    Cyburbian DetroitPlanner's avatar
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    Mar 2004
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    Where the weak are killed and eaten.
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    NEVER take moeny out of one tax-free account to make it taxable.

    If s/he has a short term goal to buy a house s/he may want to lower the amount of contributions for a while. But to take money out is a huge mistake.
    We hope for better things; it will arise from the ashes - Fr Gabriel Richard 1805

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