Tag Archives: 401k
Should we withdraw our 401k to pay off mortgage in anticipation of my husband’s retirement next year?
Question by meljean: Should we withdraw our 401k to pay off mortgage in anticipation of my husband’s retirement next year? We are both fully vested and wish to be debt-free when retired as we will have only SS and a small pension from my husband’s previous employer. There would be no repayment involved since we […]
by MoneyAware Question by AZis4citizens: Better to take 30K out of 401k and pay off mortgage completely and be debt free or let it ride? I still have 25years on Mortgage and could muster the cash to pay it off by combining all liquid assets and be debt free? Best answer: Answer by Help Is […]
401(k)’s were billed by the government and corporations as one of the most powerful tools you have to save for retirement. 401(k)’s are offered through employers and can be contributory or noncontributory.In addition to saving for retirement they were billed as one of the best tax shelters that our federal government has ever managed to […]
If you are trying to figure out what retirement plans are available through your employer, keep in mind that Employer retirement plans and the tax laws that back them are very complex. Do not hesitate to seek outside help if you need help determining the best plan for you. Most plans fall into one of […]
War On Wealth Series – Taxes With every tax dollar you pay you move further along the road of becoming an Accidental Philanthropist. Since the first income tax in the United States was imposed (under Article I, section 8, clause 1 of the U.S. Constitution) in 1864 during the Civil War, there has been an […]