Coronavirus Relief - 401K No Penalty Withdrawal $100k- Should You Do It?

#caresact #401k #coronavirusrelief #schoolofpersonalfinance #personalfinance #financialeducation #financialplanning #financialfreedom #fire #financialindependence #richmccormack Should you take $100,000 out of your 401k, 403b, 457, IRA, Roth IRA, SEP IRA, Simple IRA?? The CARES Act opened up new penalty-free distribution options from these types of employer-sponsored plans. I give you all the details in this video along with some strategies that available as a result of the CARES ACT. Also, there are new enhanced loan limits within 401(k) plan that will allow plan participants to take loans up to the lesser of 100% of their vested balance or $100,0000 and defer payments on those loans for a year. Lots of good info!! IRS Website Referenced in the Video: Q&A From IRS Website: Subscribe Here: Share this video with a friend: School of Personal Finance Website ★ CONNECT WITH RICH ON SOCIAL★ ▸Twitter: ▸Instagram: ▸Facebook: ▸Linked In: To Becoming Great With Money, Rich McCormack, CFP® School of Personal Finance School of Personal Finance is an Investment Advisor registered with the State(s) of New York. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or the completeness of, any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Please contact us at 914-299-3843 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend you compare any account reports from SPF with the account statements from your Custodian. Please notify us if you do not receive statements from your Custodian on at least a quarterly basis. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.schoolofpersonalfinance.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis....(read more)

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