#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 Wit...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)