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<blockquote data-quote="Babagounj" data-source="post: 4456778" data-attributes="member: 12952"><p>When it comes to 401Ks , Uncle Sam is going to want his taxes paid. Once you can take some money out, just remember this ; $10 Fee to Prudential is upfront and then what ever amount you are withdrawing minus taxes ( depending on your state )of .251 = X.</p><p>I have done this 4 times in the last 5 years, try to do any movement of funds prior to the year before going on Medicare. It will effect your income levels.</p><p>Higher income levels will make your Medicare costs go up. Under $85K and you are safe but $85K to $109K jacks up what you owe Uncle Sam.</p><p>No SS for me yet, waiting to get to FRA and a couple of months longer. Need to get as much as possible before SS has to make 25% Cuts. Projected date for cuts has been moved up by 2 years due to the lack of incoming funds today.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 4456778, member: 12952"] When it comes to 401Ks , Uncle Sam is going to want his taxes paid. Once you can take some money out, just remember this ; $10 Fee to Prudential is upfront and then what ever amount you are withdrawing minus taxes ( depending on your state )of .251 = X. I have done this 4 times in the last 5 years, try to do any movement of funds prior to the year before going on Medicare. It will effect your income levels. Higher income levels will make your Medicare costs go up. Under $85K and you are safe but $85K to $109K jacks up what you owe Uncle Sam. No SS for me yet, waiting to get to FRA and a couple of months longer. Need to get as much as possible before SS has to make 25% Cuts. Projected date for cuts has been moved up by 2 years due to the lack of incoming funds today. [/QUOTE]
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