When Should I Start Getting Money Out Of My 401(k)?

[@nanayork1]

Thank you! This is my favorite training!

[@kingnde6633]

Thank uu for the free education, very helpful

[@missedfortune]

You are very welcome

[@RetrieverTrainingAlone]

When retired there is an advantage of rolling over. Withdrawal from 401-k has 20% withholding and with IRS slow refunds, it may be 18 months...by rolling over to an IRA and then withdrawal, no mandatory 20% withholding.

[@iztherelife1340]

Ordered the book. Be aware there are tons of ‘wait’ do you want a $37 offer. Another and another and another to just get the book. By then you’ve already given your credit info. 🤦🏻‍♀️. Just so you know.

[@marantz747]

So do you start rolling into before 59.5 and pay the 10% IRS penalty?

[@golfnutz99]

What about those of use that only have a property not properties. I have a feeling I would get killed when filing and owe thousands.

[@adrianduncan9735]

Awesome!

[@missedfortune]

Glad you think so!

[@myhouse-yourhouse]

Life insurance tricks...

[@rosantaflores8483]

I have IUL and with monthly premium of 400 only. If I’m saving on my Roth401K of 1500 a month and my employer is matching it 100 % guaranteed isn’t this strategy will make me make more money if I do this for 20 years? I ll will save 360,000 plus match of company of 360,000 minus tax. After 20 years I’ll be 65 then I will put in a new IUL insurance policy or whole life. Is that better idea sir?

[@missedfortune]

I would generally suggest that you put in up to the match with a company 401(k) plan and then re-route anything above that. But remember that over 20 years, compound interest is a larger influencer than contributions on your financial success.

[@rosantaflores8483]

@@missedfortune I wish I could draw money from Roth 401 k yearly or monthly so I can dump it on my insurance. Even if I’ll pay 10% of penalty and tax , at least I’ll get the 100% match from my employer. Thank you sir!

[@robmartin217]

201(K)?.....