Can you rollover 401K to an IRA account?

Quote from jeb9999:

1) You have to leave your current employer in order to take money out of or rollover your 401k.

2) There is no age requirement to do a rollover from a 401k to an IRA.
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That is correct, I have done it twice now, after 2 layoffs. And rolling over to an IRA does not incur a penalty.
 
I've done it three times no problem (401K to IRA)

Now I'm trying to figure out a way to quit my job (which I like) for 1 day ... get that 401K $$$ outta there and just start over again.

after 8 years with the same company, for me, there's a growing reason why I gotta leave. staying another 12 will mean that I'll be poverty stricken in my old age. The 401K will be like this 30 year old midget who supposed to take care of me when I'm 59. Aint gonna happen.

One alternative I was thinking of : just bite the bullet, suspend 401K contributions for 6 months, fund a margin with that money and just double up the 401K contributions later.
 
There is no limit on the rate at which you can contribute, just the amount. I used to reduce spending in the early months of the year and greatly increase my 401K contributions - like almost half my entire weekly salary. Because the 401k contribution is not taxed it does not affect your take-home pay as much as you'd think it would. This gets your employer's contribution (if any) very quickly and gets the money working in the 401K sooner.

Jack
 
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