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I want my 401k money now!!!
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<blockquote data-quote="dudebro" data-source="post: 3471915" data-attributes="member: 11234"><p>True, but you will still pay income tax on any money the contributions earned while they were in the Roth. For instance, if you put in 9,000 and it grew to 10,000, 10% of that money was earned but not taxed. </p><p></p><p>If you withdraw it all, yes, the 9k was after tax, but you'll still owe income tax on the extra $1,000. </p><p></p><p>I would talk to a planner if I were you. Assuming you can easily earn >10% "easy" is usually a fool's pursuit, and your starting chunk is going to have a tax bite taken out of it unless you lost money.</p></blockquote><p></p>
[QUOTE="dudebro, post: 3471915, member: 11234"] True, but you will still pay income tax on any money the contributions earned while they were in the Roth. For instance, if you put in 9,000 and it grew to 10,000, 10% of that money was earned but not taxed. If you withdraw it all, yes, the 9k was after tax, but you'll still owe income tax on the extra $1,000. I would talk to a planner if I were you. Assuming you can easily earn >10% "easy" is usually a fool's pursuit, and your starting chunk is going to have a tax bite taken out of it unless you lost money. [/QUOTE]
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