A Retiree With $900,000 in a 401(k) Could Pay More in Taxes by Leaving It Untouched at 62
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The post A Retiree With $900,000 in a 401(k) Could Pay More in Taxes by Leaving It Untouched at 62 appeared first on 24/7 Wall St..
A 62-year-old retiree with $900,000 in a pretax 401(k) could be making an expensive mistake without withdrawing a dime. In this hypothetical, cash and a brokerage account cover the bills, leaving the 401(k) untouched and the federal tax bill small. That looks like smart planning. But the retiree may be burning through the cheapest years to get money out.
Every dolla
A 62-year-old retiree with $900,000 in a pretax 401(k) could be making an expensive mistake without withdrawing a dime. In this hypothetical, cash and a brokerage account cover the bills, leaving the 401(k) untouched and the federal tax bill small. That looks like smart planning. But the retiree may be burning through the cheapest years to get money out.
Every dolla
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