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Financial Planning / Foolish 401(k)s


Subject:  Re: 401k withdrawal question Date:  12/4/2012  12:21 AM
Author:  Fuskie Number:  24952 of 26307

In order to pay off her $6000 loan, she'll have to take out from the 401k not only the $6000, but also enough to cover the income tax on the total amount of the distribution.

Who notes she will have to have an idea of her tax rate in order to estimate how much extra she will need to withdraw in order to satisfy both the loan and the tax liability...
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