The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: 401k withdrawal taxes at retiremtent||Date: 7/9/2013 7:03 PM|
|Author: gdett2||Number: 118830 of 122917|
I was thinking of withdrawing the maximum amount from my 401k (up to $46700+/-) every year, use what we need to live on and invest the rest,
Why are you withdrawing to invest?
If you want the money to invest in better products than your 401K offers, DO a Rollover to an IRA. You will not be taxed on the rollover.
Keep in mind that these are traditional accounts and will be subject to RMDs in the year you turn 70 1/2. This will be added to your income.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|