Comments on: Retiring With A 401K – What You MUST Know

By: @Jazzwealth

@Jazzwealth — Tue, 09 Apr 2024 13:38:46 +0000

Thanks for watching! Questions, comments, concerns? Drop them below!

By: @1wheeldrive751

@1wheeldrive751 — Tue, 09 Apr 2024 11:13:25 +0000

In reply to @billyrayband. ⁠@@bradschmittling8118- you can roll your 401k into a self-directed traditional IRA at any time with no tax penalty. It is accomplished by selling whatever investments you have in the 401k and rolling that cash into your IRA. Then you can invest your IRA cash however you see fit.

By: @vchap01

@vchap01 — Tue, 09 Apr 2024 06:32:47 +0000

In reply to @leemiller358. Yes, you can be older than 55. This is covered in the rule of 55. The specifics of withdrawals are different between plans.

By: @vchap01

@vchap01 — Tue, 09 Apr 2024 06:27:25 +0000

In reply to @SotornM. Some companies only allow you to take a single withdrawal without penalties between the year you turn 55 until 59.5. Make sure to find out the details for your 401k plan.

By: @stevenorris1

@stevenorris1 — Tue, 09 Apr 2024 05:11:32 +0000

The key is expenses. Low expenses, low amount needed for retirement. I have only averaged $50,000 a year over the last three years. Home paid off and no debts.This is less than 1% of my portfolio. Did all major work to my home back in 2020, new roof, siding, paint, along with renovating the bathrooms. Can get a fully subsidized ACA plan, keep my AGI in the 12% bracket and still live the life I currently do as a successful business owner. Just gotta keep that “Just one more year” voice out of my head. Retirement date, May 30th 2024.

By: @allenmajors4806

@allenmajors4806 — Tue, 09 Apr 2024 04:46:22 +0000

In reply to @billyrayband. Fidelity has 4 indexed mutual funds with no expense ratio

By: @bradschmittling8118

@bradschmittling8118 — Tue, 09 Apr 2024 03:50:16 +0000

In reply to @billyrayband. Can you start to roll over 401k before you retire from that company ?? Ty

By: @leemiller358

@leemiller358 — Tue, 09 Apr 2024 02:03:12 +0000

For rule of 55, i understand it that you need to be 55 or older. You said you need to turn 55 in the year you retire…not 54. What about 56, 57, 58… Could this be dependent on specific plans.

By: @RepuBlicOfChaD

@RepuBlicOfChaD — Tue, 09 Apr 2024 01:08:57 +0000

Having multiple sources of retirement income is key!

By: @sj2691

@sj2691 — Mon, 08 Apr 2024 23:38:20 +0000

Hi, where would you invest 8 k for 5 years while adding 9 k per year during that 5 year period Thanks