How to avoid paying taxes on a 401k withdrawal

When it comes to being tax-efficient with your 401 (k) in retirement, it’s all about the order in which you withdraw from your accounts. Here’s an example. Let’s say you’re retired (over age 59 ½) and your tax status …

How Can I Avoid Paying Taxes on My 401(k) Withdrawal?

Official Site: https://www.northwesternmutual.com/life-and-money/how-can-i-avoid-paying-taxes-on-my-401k-withdrawal/

If you start withdrawing your earnings from your money then an early withdrawal will trigger taxes. You will have to pay a penalty of 10% on both types of accounts if you withdraw before you are 59 1/2. There are some hardship exceptions regarding the early withdrawal penalty and taxes. You don’t have to pay a withdrawal penalty in these …

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How can I avoid paying taxes on my 401k withdrawal? Video Answer

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