<prompt> Human: I have 8K that isnt doing much in an old group retirement account from my first job. My current job pays better and has a much better retirement plan that is with a different institution. Im considering withdrawing that 8K to do some of my own investing and potentially start a small side business. I know there are a bunch of fees involved but Im struggling to find good comprehensive information on how to withdraw the money and how much I should expect to lose in doing so. Any help is much appreciated!  <response>: You say that you have a much better plan with a different institution? Why not just rollover from old account into new? You could technically open an account at any institution that offers a self directed plan and just roll into it without penalty. If youre set on withdrawing then you just contact your old plan and let them know you want to take an early distribution. Assuming this is a 401k account youll pay an up front 10 penalty for early withdrawal. Youll also be subject to the sum being added to your yearly taxes. Be wary if if you are on the cusp of a higher tax bracket. 