401k cash out?

I'm quitting my job at the end of the year. I will have a large sum of money from my 401K.

What investment account (MMA, IRAs, etc) can I roll my money over in without the implications of taxes? Naturally, I need to have access to my money.

Assuming all your 401K is pre-tax contributions, you'll want to roll it over into a tradtional rollover IRA. Do a custodian to custodian transfer. No 10% withheld and no taxes.
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You can transfer it to an IRA for sure and not pay taxes. If you plan to work again, you can transfer your 401K money to your new employer.

the only thing you can roll over your 401k and not pay taxes to is...
1. Traditional IRA
2. Another 401k or 403b sponsored plan at your new job(if plan allows)
3. Qualified 457 at your new job(again if plan allows)

if you are under 59.5years of age, you will not have access unless you pay tax's and 10% penalty. If you are before the age of 59.5 and retired, there are laws allowing you to start taking distributions without penalties, but you will have to have systematic withdrawals taken in the same intervals till 59.5. Again, tax's will apply here.

The government makes it hard for you to get this money before these ages so you will be able to use it for your retirement. I hope you understand this.

Edit:
for all of you that downgraded my answer, you don't have a clue.
"Periodic withdrawals. You may avoid early-withdrawal penalties from IRAs before 59 1/2, by withdrawing funds as a series of "substantially equal periodic payments." To qualify, your withdrawals must follow a regular schedule for at least five years or until you reach 59 1/2, whichever is later. You're subject to severe penalties if the schedule is not followed exactly. Before taking action it's wise to discuss this issue carefully with a knowledgeable tax advisor"
http://www.bankrate.com/brm/itax/tax_adv...

Are you 59and a half? You cant touch that money without
penalty untill you are 59 and a half. You can roll it anywhere.
Taxes wont kick in till you withdraw. You have total access.
For a severe penalty you can withdraw anytime.

Naturally you can not have access to your money if you roll it over. To have access must withdraw & pay taxes and penalties. You should roll it over to an IRA @ schwab as you need to invest even if have quit job. If you don't you will be sorry. Feel free to contact via answers on what to invest it in.

Do you really need cash from your 401k? You're going to get taxed big time.

If you that, and had lets say $50k then after all the taxes its only $26.5k. I can't imagine taking a loss like that. (see first link, question 2)

It would be best to do a Direct rollover to your next job.

You do Not take the money out, keep it, put it back into the next plan because you'll end up paying taxes.

You do not give your age and that is very important when speaking of 401K's or IRA's. There are differenct types of ways to handle your funds, but the main two are, Rollover or withdrawl. In a rollover the check for the funds from your current company is made out to your new company for credit to your account. In a withdrawl, the check is made payable to you and then you will have 60 days to redeposit it into a current 401K or an IRA. No funds will be with held for penalty or taxes if either of these is done. But if you withdrawl and do not deposit it back into some type of retirement account within the 60 days, the funds become as income and you must report it as income on that tax years income tax and you will be paying income taxes on that money. Any funds you take from this account before you are 59 1/2 will probably have 20 to 30% withdrawn from the amount you take for taxes and notice sent to the Federal Government. If you are under 59 1/2 you not only get the 20 to 30% withdrawn but you will probably have to pay a bank or company penalty, based on the lenght of time it has been on deposit. A 401 K or an IRA is not like a checking or savings account that you can access anytime you want. Unless like I said above having to pay taxes on amount withdrawn or even a bank or company penalty. There are new laws concerning the IRA's now, where under certain conditions, you may withdrawl funds with no penalty. Check with your chose of depositor for these new rules. I hope this has helped you and not confused you even more. As an add on, you MUST start withdrawling what they call minimum withdrawl amount when you are 70 1/2. It can be monthly or even one time a year. However you want to take it. But you must start taking it at 70 1/2. The financial company will notify you. The amount is arrived either by you (if you want more) or by the government's so called Minimum based on how long THEY think you are going to live. I know you think this is a joke, but it isn't. Check with your financial institution.