What options will minimize penalties and taxes when taking out my 401(k) from my previous employer?

I have a 401(k) plan with my employer that I just recently resigned from. I need to take a portion of the amount out and would like to invest the rest. I'm under 40 years old and I worked for the company for 20 years.

Investing, 401(k), Taxes
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October 2017
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When withdrawing funds from a 401(k), you will be subject to ordinary income taxes as well as a 10% penalty for withdrawing before the age of 59 1/2.  If you withdraw only a portion, that portion will still be subject to ordinary income taxes and the 10% penalty.  To avoid the taxes and penalty completely, you will need to reinvest the assets from the 401(k) into a Rollover IRA. You must do so within 60 days after the date of the withdrawal.

October 2017
October 2017
October 2017
October 2017