As tax rates hit historical lows, Doug provides some historical context on the 401k and asks if now is the time to retire your 401k and put your savings elsewhere. Visit our website at Call the Maximum Wealth office at 706-876-0844 for more information and personalized financial advice!... ( read more )
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When it comes to retirement planning, many people rely on their 401k accounts to fund their golden years. However, there may come a time when you need to cash out your 401k, and it's important to understand whether this is the right decision for you. First and foremost, it's important to note that there are penalties for withdrawing money from your 401k before age 59 1/2. You'll typically face a 10% penalty on the amount withdrawn, on top of income taxes you'll owe on the money
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