Annuities / 1 posts found

The Great 401(k) Flaw

by IST
401(k) plans have become widely used over the last 30 years. Unfortunately, the plan has many flaws. The biggest of which: is that when people reach the age they MUST begin withdrawing money from their plan. Age 59½. The 10 percent early withdrawal penalty on IRA withdrawals ends at age 59½. However, you are not required to take distributions until after you reach age 70½… AKA – the governments payday. How many of us were told to save tax deferred and then take out when you are retired and in a lower tax bracket? How many people can risk retiring […]
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