by Brendan Willmann | Feb 8, 2020 | 401k, Preparing, Recent
A premature 401(k) withdrawal is a triple whammy. First, the early 401(k) distribution is taxed as income. If you withdraw $10,000 and are in the 22% Federal tax bracket, you will incur $2,200 of Federal tax liability, reducing the net distribution after taxes to...
by Brendan Willmann | Feb 8, 2020 | 401k, Investments, Preparing, Recent, Roth IRA
If given the opportunity to contribute after-tax dollars to your 401(k) and subsequently roll to a Roth IRA, back up the truck. BLUF (Bottom Line Up Front) Funding a 401(k) with after-tax contributions is the first step of a process that can potentially direct...
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