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Generally, if you withdraw money from a 401(k) before the plan’s normal retirement age or from an IRA before turning 59 ½, you’ll pay an additional 10 percent in income tax as a penalty. But ...
Alternatives to 401(k) Withdrawals. Chances are that you have other options for raising cash besides withdrawing or borrowing money from your 401(k) account.
Use SmartAsset’s free retirement calculator to see if you’re on track to meet your retirement goals. You may find your company’s 401(k) plan may not be the best option for you. And you may ...
A 401(k) can be a great way to save for retirement, but a few wrong decisions can derail your progress. Fortunately, it only takes a little planning to avoid the biggest 401(k) mistakes.
Managing your 401(k) in retirement every bit as important as managing it up to that point. There are plenty of reasons for this but the big one is, you’re going to need this money for a long time.
Remember that guidelines are not set in stone — rather, they're good rules to follow. For instance, if you’re 30 years old and earn $75,000, you should try to have that much saved in your 401(k).
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