Category: 401ks

At What Age Should I Start Making 401(k) Withdrawals?

At What Age Should I Start Making 401(k) Withdrawals?

Posted in: ,

Published: August 7, 2019

There are plenty of best practices about how money goes in and grows in a 401(k), but in this article, we tackle the rules related to the age at which you can withdraw from 401(k) plans. By withdrawal, we mean taking money out of the plan (preferably gradually), paying your taxes on the withdrawal amount, and spending it. A rollover to an IRA or a transfer to a new 401(k) plan is not the type of withdrawal we’re talking about here. The object of the withdrawal game is to minimize taxes and get the maximum after-tax income from your nest egg. This

7 Basic Things You Should Know About Your 401k Plan

Posted in: ,

Published: July 31, 2012

I recently spoke with a good friend from college who had the misfortune to lose his job. Did you have a 401(k)?” I asked him. “I think so,” he responded. “I see money coming out of my check going somewhere.” I continued to inquire. “Do you know how it’s invested? What about a company matching contribution?” My friend paused a moment before answering, “No idea. I think the company does contribute something but I don’t know how it works. We had some guy come and talk to us and show us the investments. I picked one he said