- Black workers were the most likely to take out an emergency withdrawal from their 401k retirement plans, according to an Ariel/Aon Hewitt study. Nearly one out of 10 blacks -- or 8. (Sun Sentinel)
- Add tax diversification. While traditional retirement accounts give you a tax break in the year you make contributions, income tax will be due on each withdrawal. (MSN Money)
- By withdrawing funds from your 401K prior to the age of 59, taxpayers face an additional 10% tax penalty, on top of the regular income tax for early withdrawal. Additionally, you may be pushed into a higher tax bracket as a result of the additional income. (Huffington Post)
- But investors in 401k plans have a richer alternative In contrast, a saver who makes a withdrawal from a stable value fund would not suffer because the insurance contract protects against principal losses. (MSN Money)
- I was hesitant to withdraw money from my 401K plan at first, but I needed the boost to help In order to withdraw the funds, I had to pay a 10 percent early withdrawal penalty. (Yahoo Finance)
Wednesday, April 4, 2012
401k withdrawal
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