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progree

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10. And after age 59 1/2, one still pays income tax on the withdrawal -- if a large withdrawal, it can boost one

Reply to Yo_Mama_Been_Loggin (Original post)

Mon Aug 18, 2025, 02:36 AM

Aug 2025

into higher and higher tax brackets (and it can also increase the percent of Social Security benefits that are taxed, and it can also increase Medicare premiums - search on IRMAA) So best to withdraw modest amounts over multiple years.

If one is mostly house-cleaning, i.e. getting rid of multiple small 401k's after working for several different employers, then one should look into a tax-free rollover of them into an IRA where the tax-deferral will continue.

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An alarming number of workers cash out 401(k) plans [View all] Yo_Mama_Been_Loggin Aug 2025 OP

Yup, have to be hard up to do that. gab13by13 Aug 2025 #1

Yeah, this is scary Johnny2X2X Aug 2025 #2

Yep leftstreet Aug 2025 #3

Vast majority of 401k's this time next year will be worth a LOT less. roamer65 Aug 2025 #8

And three years from now it will be up by a lot more Renew Deal Aug 2025 #12

Probably. roamer65 Aug 2025 #13

and Republicans want to privatize Social Security Emile Aug 2025 #4

Had a ex co worker do that MichMan Aug 2025 #5

When your unemployed and only getting roughly $400 a week... Xolodno Aug 2025 #6

Home sales are at the lowest level in 30 years. Even lower than 2008 to 2010. roamer65 Aug 2025 #7

GenX is going to be so screwed in 10 to 15 years Johonny Aug 2025 #9

I do fear for my generation Johnny2X2X Aug 2025 #11

And after age 59 1/2, one still pays income tax on the withdrawal -- if a large withdrawal, it can boost one progree Aug 2025 #10