| Title | : | New IRA u0026 401K Early Withdrawal Rules Starting in 2024 | Early Retirement Guide |
| Lasting | : | 10.16 |
| Date of publication | : | |
| Views | : | 78 rb |
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Do you need help with your personal finances? Schedule a financial consultation by visiting wwwfirepsychatcom/consultation Comment from : @FIREPsyChat |
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Do you have to fill out a form for taxes or no because I already passed even though I’m under 59 and what form would that be for taxes? Comment from : @LumiVictoria |
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So is 10 the total tax on hardship withdrawals? I'm worried about my income tax getting hit, but I paid the 10 on the hardship already a co worker said he hardshipped a couple times and only got back like $400 income tax check because of that F**kin taxes bro Comment from : @NickBannigan-k2m |
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You did such a nice job on this topic! Comment from : @AngelPrissy |
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Awesome info about the Reserves/Guard exception- had no clue Thanks for sharing and for your service! Comment from : @matthewmillet3807 |
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What?about if you moving out country wish OS my situation Comment from : @alexsosa997 |
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How do you show proof for higher education expenses to avoid 10 penalty fee? Comment from : @wavygoods877 |
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I have a question I just got fired is there a way to withdrawal my 401k and close it my other job does not have 401k does not have any kind of a retirement plan in the company I don't know if the guy in the YouTube channel it's going to read this Comment from : @dragonhomefront |
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How do you go about pulling the money after having a baby? It’s not an option on the hardship withdrawal list? Comment from : @T1818D |
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If I have only my social security $1400/month Can I withdraw 10,000 out of my IRA in each year without paying any tax? Is there any allowance before you pay tax At the end of the year I don’t want to have to submit any tax returnsbrI also have the option of being a resident of NC or FL does it make a difference ? Comment from : @GaryNorman-if9ph |
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I would not go over 5k honestly I knock out some debt you can make that money back before the year ends Comment from : @Djogbee |
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What if its a family member who is your dependent in tax filing that has terminal illness I take care of my mom who is terminal ill and got laid off because im caregiving Wanted to withdrawel some money from my 401k Comment from : @davidpai7127 |
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10 is always taxed on IRAs in opposed to 401ks Comment from : @maadakeili |
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Taxes man They’re evil Comment from : @AtlasFalls |
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The Government: "We know that you're dying and all, but you still own those federal and state taxes Thanks!" Comment from : @FelaKuti8000 |
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What specific do I need to provide as proof I'm withdrawing to use for education? Comment from : @alksdjfsd |
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I withdrew my whole 401k after learning the management was raping my account with fees Me as a dummy invested better on my own than their “professionals” Check the fees they charge it’s ridiculous Turns a 10 average market growth into 3 Fug umm Comment from : @HoodHousekeeping |
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I had to pull out money from my 401k My transmission went out I paid the 10, but am I going to get hit again when I pay taxes? Another question , can I pay that money back into my IRA to avoid the extra taxes? Last question, do i have to put it into that account ? Or any account? Comment from : @mathewpeace |
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What about the "Rule of 55"? Comment from : @brentncindy9023 |
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can we nonresidents be exempted from a 10 penalty according to the tax treaty with the USA and Australia(MY country) Comment from : @aswinlavis98 |
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I’m really happy you have such a nice emergency fund Most of us don’t have that luxury Comment from : @JayDuke-r2d |
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I pulled my 401k had over 200k in it and I used it to start flipping properties best thing I ever did Comment from : @richardkimbrel4849 |
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I'm going to be dead by 2030 at the latest and I'm 42 How do I get that money out without having to pay it back? Comment from : @benweaver7455 |
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Why do politicians believe our money is theirs to misappropriate and launder? Comment from : @rogercotton5134 |
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College😂😂😂😂 Comment from : @faye5942 |
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I just want to know if I will avoid the 10 penalty based on the Age of 55 rule if 100 of my account is with my company sponsored Roth 401k I plan on being with the same company for 30 years of my career and solely dedicating all of my contributions to the Roth 401k So I will meet the Rule of 5 years but I will not meet the rule of 59 1/2 because I want to go at 56 years old But do those rules even apply to a Roth 401k? This situation is not clear Comment from : @nateitscake88 |
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Does this apply to 2br403b Comment from : @biggerthanhiphop7641 |
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Silly question but what do you mean by you might "delay your retirement" when tapping into our IRA? Comment from : @daisyalicia |
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75 medical expense illustration is incorrect Please fix Comment from : @DT_123 |
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Amazing Comment from : @alexisreyes3351 |
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I just love they can penalize the money I MADE dude i hate living Comment from : @ITSJFE |
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What if I lost my job? But I would like to take my 401 k and put it into a Maryland 529, And a Roth IRA and stock Comment from : @qla9226 |
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dam the goverment just want to control us till the day we pass away people need to learn how to live life and enjoy our money till we pass away Comment from : @sirgigglez |
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Good day brI have to withdraw money from IRA to pay for my college I know that withdrawals from IRAs before age 59½ are subject to a 10 penalty But if I use the withdrawals to pay for qualified education expenses (in this case, my college tuition), I may not have to pay this penalty I have one other brokerage account too, so do I have to exhaust that first (plus any money in my bank account) prior to withdrawing money from my IRA account without being penalized? Or can I just leave my brokerage account alone and withdraw the IRA without being penalized using the criteria mentioned above?brThank you Comment from : @khatran1153 |
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Thank you for your video video Comment from : @dwalker6868 |
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I Withdraw my 401k early And I got deducted for 10 How much taxes I have to pay? do I have to pay taxes all of the amount or just the after 10 amount? Comment from : @ericjulian5610 |
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Why would anybody think this is ok!! This is why we must vote third party candidates, because neither one of this feckless parties represent the people, find out more at the Jimmy Dore show😡 Comment from : @theleftofus7222 |
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People get your money out of the governments pockets! I've lost 50k in the last 22 years The lies that you won't have to pay later is bullshit You still pay taxes when you retire, but at a trending higher rate and a trending debt loss Comment from : @davidfierros8186 |
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So there's no law that says there's a penalty? Comment from : @davidfierros8186 |
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He gives the facts regarding early withdrawalsif you can withstand the up-selling of his products every two minutes brbrHe also repeats, after every tax exception example, his dislike of any retirement withdrawal for any reason As if we are considering this option without due consideration He repeats his disdain of this option often enough to, to me anyways, take it as an insult Comment from : @tradingstocks5127 |
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When this economy goes tits up, your retirement is gone if its invested traditionallybrHave you not been paying attention? Comment from : @JohnnyPnueman |
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I had roughly 4000 saved in my retirement IRA with American Century , but me and my partner was at risk in getting evicted and had to pay rent until our jobs promoted us, Would i have to pay extra taxes once taxes come around Comment from : @ariciaboyd8239 |
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😮what are the penalties for early withdrawal from a traditional IRA I've run into financial troubles And I know there is 10 penalties but is there additional taxes at the end of the year when filing Comment from : @mixedmedia_artist |
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Can the penalty be paid in installment? Do you contact IRS for it? Comment from : @baruthrowling4003 |
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We are having to pay for IVF out of pocket- I am assuming this would be considered a medical exspense? And if we did decided to do this we could take our 75 of our AGI correct? The money would be from my husbands IRA account but be paying for medical bills Would all this be ok and help us miss the penalty? Comment from : @sheleedoll |
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what if you dont use the money in 120 days? Comment from : @4309chris |
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Bro just teach me how to pull early Comment from : @joonjonj3w |
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So I’m in California I’m withdrawing my 401k I asked them to withhold 20 for federal taxes, how much should I expect to pay for state taxes? Comment from : @madswinebbq |
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The company I currently work for invested my money in their 401K program without my consent or knowledge I'd like to withdraw the money now because, quite frankly, I don't think the economy will hold out long enough for me to retire (I'm only 44) Comment from : @Maniac1607 |
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What about potential student loan default ? Does it fall into hardship for higher education costs? Comment from : @MountainMn22 |
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What if I already have enough to retire (in around 4 years) and I want to take advantage of my 401k before I am that old? Comment from : @blazedorange |
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Retirement accounts are cash flow A 401k is wall streets play toy I’m gonna withdraw my 401k and buy a asset like a fourplex Just not the time, but you should inform people about why 401k’s are even a thing… It’s because pensions failed I don’t trust the American dollar I don’t save cash Comment from : @justinzippo7772 |
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Omg! I needed this! I have a 403 B for retirement (non -profits) and I wanted to withdraw to buy my house as a first time homebuyer but was worried about the 10 penalty Thank you! Comment from : @emilypapi1307 |
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I’m sorry but Biden is the worst president ever Comment from : @markjou9799 |
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