I’m 60 and want to withdraw $250,000 from my 401(k) to pay off the mortgage and bills. Is that a smart thing to do?

Thursday, 15 February 2024, 14:20

When you withdraw from your 401(k), not only are you paying taxes on that distribution, but you’re also curtailing potential investment returns
https://store.livarava.com/c28d1d36-cc0e-11ee-b88b-5254a2021b2b.jpe
I’m 60 and want to withdraw $250,000 from my 401(k) to pay off the mortgage and bills. Is that a smart thing to do?
When you withdraw from your 401(k), not only are you paying taxes on that distribution, but you’re also curtailing potential investment returns

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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