If you are impacted by the coronavirus and are thinking about cashing out your 401(k) retirement funds consider that normally, in accessing your retirement funds the penalty for withdrawing from a 401(k) before the age of 59 ½ is 10% of the distribution, plus an automatic withholding of a least 20% for taxes. But with […]
In part 1 of “Assessing Retirement Funds According to the CARES Act” we discussed with a broad overview that if you are impacted by the coronavirus and thinking about cashing out your 401(k) retirement funds what the penalties and taxes would be. Part 2 below talks about 401(k) loans versus 401(k) distributions in assessing Retirement Funds during […]
In part 2 of Assessing Retirement Funds According to the CARES Act we discussed 401(k) Loans versus 401(k) Distributions if you are impacted by the coronavirus and what happens if you take a withdrawal vs a loan and what the bottom line is. Part 3 below talks about considering a coronavirus-related distribution. Still considering a […]