Everything has led to this: You’ve contributed to your 401k, you’re invested the assets, and finally the time has come to withdraw the money. In this episode of The Agent of Wealth Podcast – the third in a three-part series on 401ks – host Marc Bautis shares some of the biggest mistakes people make at retirement age, when taking withdrawals from their account(s).
In this episode, you will learn:
Listen to the first part, Mistakes to Avoid When Contributing to Your 401k. Listen to the second part, Mistakes to Avoid When Investing In Your 401k.
Resources:
Episode Transcript & Blog | Part 1: Mistakes to Avoid When Contributing to Your 401k | Part 2: Mistakes to Avoid When Investing In Your 401k | Schedule an Introductory Call | Bautis Financial: 7 N Mountain Ave Montclair, New Jersey 07042 (862) 205-5000
Timestamps:
0:32 - Introduction | Withdrawal Overview
1:05 - Mistake #1: Not Considering Tax Implications on 401k Withdrawals
5:44 - Mistake #2: Issues When Taking a Loan From Your 401k
7:46 - Mistake #3: Not Taking Advantage of Rule 72(t) Periodic Payments
9:34 - Mistake #4: Not Considering All Your Options When You Leave Your Job
