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Your 401k – How do you use it? What are the 401k withdrawal rules?

Frames Your 401k – How do you use it? What are the 401k withdrawal rules?

Description Your 401k – How do you use it? What are the 401k withdrawal rules?

Comments Your 401k – How do you use it? What are the 401k withdrawal rules?

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you bROCH DUNGCA-SCHREIBER/b Comment from : Fred Williams

I’m still working what is the con or pro to take some cash out besides of course the fund gets laser Comment from : Yolanda Mendoza

Imagine Joe biden is 150 years old who does not need a 401k he's got "Hunter 411k" Comment from : Uryan shalom Aleichem

I’m 25 and been denied my 401k I wrote a letter asking for withdrawal since I been let go but got denied I am currently writing a letter of apeal but how is it legal for someone to tell people they can’t withdrawal there money in a time of need Looking for some insight Comment from : Just think about it

I'm wondering if people who went through the financial crisis in 2008 had an easier time than me right now The stock market is making me really worried because I've lost over $27,000 in just this month and I'm not making as much money as I used to This is making me concerned that I might not have enough money saved up for my retirement since I can't add to my savings Comment from : Tom Nolan

I actually believe the stock market is a better and easier way to grow money than the 401(k) But it's not really by picking individual stocks, because it is an effort in futility, particularly at an uncertain time such as this I have lost more than $140k, but my portfolio is still significant, about $320k, but I'm not confident about picking stocks anymore Are there really no other options for me to gain from the stock market? Comment from : Micheal brain

A 30k & 6k car loan with 100k in savings certainly isn't debt by any standards! They're factually in great shape compared to tens of millions! Probably paying $400 hundred and $120 per month per vehicle Comment from : Randy Mullins

Does it matter if it’s a closed 401k account? Comment from : Jr Rig

Hello, question When one reaches retirement age and starts to withdraw from 401K, does the financial company take out the tax or do you simply report what you withdraw on your yearly tax return? thank you Comment from : Jim Castillo

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns This means that over time, your investment can grow exponentially So the earlier you start investing, the more time your investment has to grow through compounding Comment from : liu zhang

Can we with draw money from 401k for Education as hardship If yes, will i get penalty or taxes Comment from : Rajendra Prasad

I have 401k with my employer I got laid off and I am 55 year old Company is giving me 6 month of severance pay (paid Bi-weekly) Am I able to utilize the rule of 55 now or do I have to wait for 6 months (after my severance pay ends)? Comment from : Dami S

What is the number I can call to get some money out of my Oregon safe account Comment from : Teresa

The 401k is good, because retirement choices determine a lot of things My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k My mom retired with about 42 million, but my dad retired with roughly 18 million So it really does Comment from : Kayla Wood

Well that was a waste of time Comment from : Peter in bohol

Please comment on self-directed IRAs Comment from : Samuel Willis

I have a 457 that just placed in a fix account making 35 percent interest but I’m 58 year old retired I make 45 thousand a year from my pension Should I, when turn 591/2 put them in a IRA? Comment from : Jorge Rojas

Maybe someone can help My fiance is currently struggling with health and she is in n out of work so money income is inconsistent She has a current car loan that she has been trying to get out of but shes way upside down on the loan My last resort was to withdraw some money from my 401 and help pay the difference to get rid of her 500$ monthly payments We are in our early 30’s Any thoughts on how that would work? Comment from : I like FRiEd Rice G

Get get to each otheor Comment from : Dod Vi

The retirement fund that my husband and I have built up is doing quite nicely The majority of the money, which averaged roughly $2 million, was made by taking advantage of the opportunity to purchase luxury stocks at a significant discount during the Great Recession 2009 saw my stockbroker fired, all of my mutual funds liquidated, and I purchase individual dividend stocks You can succeed if you are patient, don't panic, and do your homework Comment from : Amabella Faucher

Dang I'm Way behind, I'm 38 with zero credit and never had a credit cardI'd say I have a fresh start 👀, Others say I'm ? Comment from : pillbert did it

I withdrew a lot and paid my loan on 401k that’s because I am earning more this year I have been investing while working at the same time I invested through TERESA JENSEN WHITE, same woman that an anchor ‘jim cramer’ kept mentioning on CNBC, and made multiple of my start up capital within three months She lives here in the USA and she is licensed Comment from : omik andre

Thanks!! Comment from : Fer du Port

Brandon changed the RMD rules for retirement accounts that goes into effect in 2028 Now retirement accounts are capped and one has to take an RMD no matter what your age if your account is "too big" This is in the Biden Build back better plan part 1 written by Senator Wyden (Oregon) and Congressman Neal Taxachuusettes I flippin live in Texas and did not vote for any of these people or for their changes Thanks Oregon and Mass and Brandon They need the cash for all of Congress wasted spending Comment from : Karl West

So I'm 59 and a half just barely, but lawyer friend said I need to wait another month for some reason Please let me know if this is true Comment from : joseph carioggia

What is the maximum amount of money I can contribute to my 401k every year ? Comment from : Silver Honda

I wish you would go right to what 90* of withdrawers need to know What is my minimum amount and I never heard this Comment from : Mark Seifried

Can i get my money back if i quit? Comment from : Sara Parkins

Thanks Comment from : Pretty Natural

Thank you so much for helping me to recover my money back from all this fraud and scam you're the Best out here #Splinthack Comment from : Thomas Allen

you dont touch it Comment from : steven bergeron

they take it out of your check Comment from : steven bergeron

All thanks to #Splinthack who helped me to recover my money back he’s the best out here Comment from : Roberto Arnold

All thanks to #Splinthack helping to withdraw my money back he’s the best recovery agent out here Comment from : Anand Kumar Singh

Wall street is getting all my 401k and there will be nothing left when I go to try and get it I hate 401k and it's just a way businesses pay less to employees There will be nothing left I am giving my money away and I have no control over it People who dump all their money into 401k are just going to loose it Look up the word depression because it's happening and it's going to last quite a long time Comment from : Joesep Spindel

Excellent— everything I wanted to know, BUT wasn’t told by my 401(k) servicer! Comment from : mark swanson

I took money out of mine to pay bills ! I payed taxes! Will I also have to pay Ohio State Taxes? I had her take some anyways just incase! I am 64 ! Any help please ? Ty for the video ! Comment from : Sherri D

IRS Rule of 55 worked great for me with no penalty Comment from : Teams33

Thank you great vídeo Can you please go into how much a person should take out a year to keep them from paying a lot of taxes Comment from : Maria Hernandez

I haven't paid into my 401k since covid 2021 I'm still employed Didnt pay into it during 2020-2022I did receive unemployment for a full year 2020-2021, but didn't invest in 401k Where do b I go from here?? Comment from : Michelle C

Well I'm wanting to withdraw from my 401k shitI need my $$$ now!! Comment from : Michelle C

I REALIZED THE SECRETE TO MAKING MILLIONS, IS SAVING FOR A BETTER INVESTMENT I ALWAYS brTELL MYSELF I DON'T NEED A NEW MASERATI OR AN EXPENSIVE VACATION JUST YET brTHAT SINGLE MINDSET HELPED ME TO MAKE MORE MONEY INVESTING brI MAKE STEADY WEEKLY PROFIT I ALSO WORK? IT IS GOOD brTO HAVE MORE THAN ONE STREAM OF INCOME Comment from : Jim Vester

Fact remains, though the 401k is one of the safest retirement plans, it is not a particularly a good option Better strategy; Live below your means, Invest 20-30 of your income into the stock market but of course, be well informed about where you want to put your money I made my first million earlier this year from stocks alone with about 550k after I dissolved my 401k and added little cash (through the help of a pro though) Greatest decision I ever made Comment from : Kortney Rawhouser

Damn 401k sounds so terrible smfh Comment from : Stephen SaintSauveur

Thanks! Comment from : Hector Rivera

All these rules on ur money plus you might not even live that long… invest ppl Comment from : O G T0PSH0TTA

So how much will they deduct from your 401 at the age of 595 is it 20 ?brWhen I called they told me I would pay 20 up front as tax with out penalty and my tax bracket or income bracket of course will go higher so I will get taxed again Whew ! Comment from : Notnelc8 Quil

My dad left my mom shortly after turning 59 already had number 2 waiting apparently and bought a new home all in the same year and now I know why damnnn Comment from : Geminithugbaby

with alot of us getting hit with financial problems , waiting for 55 or even 59 is sometimes very hard its crazy right now for some of us! this cov 19 is a financial disaster designed by the market Comment from : Proud to be

anybody under 30 years of age should stay the hell away from this 401K thing Comment from : Aleks DiCaprio

How do you think about personal spending? Being 70 and having lived through mowing grass, painting houses, pumping gas, paying for college, 4 kids, a divorce, layoffs, downsized, Obamacare Comment from : Pittsburgh Pap

NEVER NEVER NEVER EVER START A 401K NEVVVVVVVVVVVEEEEEEEEEEERRRRRRRRRRR Comment from : Julio Caz

What do you know about 403b? Comment from : Rhonda Cabrera

The retirement age is always going up Save save save they tell you The fact is you can’t take money to the grave Live for today and tomorrow Save a little vacation a little Comment from : W W

👍 Comment from : Rain 70

Why take my 401K (no charge or fees) and roll it over into a IRA where brokers charge ($2300 a year) or more to manage Wouldn’t I be money ahead by managing my 401K properly Comment from : Cecil Jasso

What is roth 401k? Comment from : rey o

Judging from the title of this clip I had hoped of gleaming some information I wanted answers to Did I miss something, I'm not catching the part about the process of removing money from your 401k for use What taxes to expect, are taxes withheld and what is the process? Thanks, I guess Comment from : Scroticus Maximus

I am 74 yrs old, I want to withdraw all of my 401k and purchase a tiny house Do I still have to pay 25 percent in taxes? Comment from : Jade Stone

Jumbo jambo No clear message Comment from : davephamus

Hello , have a question for u how can I get my share of my ex husbands 401k we are divorced he retired from ups after 38 years there and as for me I out 30 years of marriage and I wasn't awarded his 401k I think it's not fare I helped him to accomplish his goals in this retirement so need help to get it , thank you Asp Comment from : Maricela Moreno

Got a 401k and a 457 Using my 457 for home purchase no penalty paying myself back with 4interest Comment from : Bear

What about to withdraw all of it while I am working in the company? Comment from : አውድማ

Great stuff I watch several youtube videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands Comment from : shelly white

How does one obtain quality, affordable health insurance when you're not old enough to sign on for Medicare? Comment from : HummerLove199

I'm 57 and wore out from working at Costco I've got over 1 million in stock Should I quit my job, pay off my home and live cheap till 62? I've got no debt other than 70k in mortgage And have the VA for medical Smart guys please help w advice Comment from : madd matt

I am 60 years old, my wife became disabled and is in a hospital in Brazil, i need to withdraw my savings of my 401k at Fidelity, but i need the wife signature, she is not able to do it, i need help , asap! Please!! Comment from : Jose Duarte

Thanks so much for your information Comment from : Abraham Zekios

401k feels like a scam Comment from : Nose Bleed

What about withdrawing from your 401k in order to control your own investing opportunities Isn't there a way to file through court for this? Comment from : A-aron67

401 k no sirve Comment from : Antonio Anchondo

Can I withdraw from my 401k for down payment for a house? Comment from : Johnny Mao

Through proper financial planning, there are more people achieving financial freedom faster today than ever before and the stock market is the best place Comment from : Henry Jones

One more reason to roll over from a 401(k) to an IRA: Roth 401(k)s are subject to RMD’s while Roth IRA’s are not Comment from : cato

How can you tax me on my own money Comment from : Juliana Rodriguez

What a rip off Comment from : Juliana Rodriguez

The 55 years of age IRS exception is a huge one and has been kept fairly hidden You can leave your current employer and start withdrawing from your 401K without the Early Withdrawal Penalty if you are 55 years of age Comment from : Robert Lewis

My friend lost her job and removed the 401K How does she avoid paying high taxes Comment from : Sonia Naidu

Also, if you turn 72 before July, you must take the minimum required withdrawal by April 15 of that year If your birthday is after July, you can take in in the following year Comment from : Tom will

taking a 401K that is worth more than $399K and converting to a Roth is S T U P I D,brYou are exposing yourself to a 35 tax rate Why put it into a tax free Roth that you need to hold for 5 years to withdraw any interest - DUMBbrTake money out as you need it and pay tax on that amount Not worth any conversion Comment from : Liam McLaughlin

I'm having a hell of a time finding out how much I can take out of my retirement fund without effecting my SSI Totally confusing I'm currently 61 years old Comment from : Oscars Mama

What is the best approach to protect a work 401k for the coming recession? This will be the biggest one ever, I dont think I have enough time to wait it out, and rebound Comment from : Mark Jauregui

Great News, I just turned 55, there still gonna get over on me Comment from : Wayne Chernick

Can i avoid to pay the IRS for a withdrawal on a TSP? I had to withdraw some funds from my TSP during COVID 19 Comment from : Silvia Rojas

Just get a Roth 401k Comment from : George GBO

Excellent explanation Thank you very much Comment from : Peter Viyuk

How is the rule of 55 plan specific?brbrIncorrect Comment from : Chip Kimber

If you have a loan on your 401K can you pay it off with the money you have in your 401K Comment from : Gloria Villegas

Just to clarify, If I roll over my 401K into a Roth IRA, will I get penalized? Comment from : Sandy Lunden

Is there a penalty if you're disabled to work if you draw your money out Comment from : Gearl Strickland

Rolling over a 401(k) into an IRA forfeits the Rule of 55 exception, correct? Comment from : Kevin Sanders

Who's money are we discussing here????brOh that's right our moneybrGovernment to much control already Comment from : person

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