Before taking out a lump sum, check with the employer who sponsors the plan, or their record keeping service provider, to see if you can take out partial withdrawals instead of a lump sum. Not only are there taxes and penalties that will be due, but you will likely lose any beneficial institutional pricing on investments that you are probably getting on the options offered within the plan. However, ifyou are still going shopping for an advisor, ask how he or she is compensated, and whether there are any kickbacks from the investments they recommend to you, along with asking how much they will receive directly from you or your account. There are huge disparities, and you can lose a ton in fees. I'm retiring at the end of the year from 30+ years in the world of institutional retirement plan consulting, mostly 401 (k) plans.