Wednesday, April 4, 2012

401k withdrawal

  • 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)

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