You have immediate access to your retirement money and can use it however you wish. Although distributions from the plan are subject to ordinary income taxes, you avoid the 10% additional tax on distributions taken if you turn: Age 55 or older in the year you leave your company.
Moreover, can I borrow from my Wells Fargo 401k?
Generally, you can only borrow up to 50% of your vested account balance, up to a maximum of $50,000. Your employer may have different plan-specific limits. Many 401(k) loans charge one to two points above the prime interest rate.