Do you understand the money game?

Are You Failing to Understand Distribution?

Take the time to understand when and how to remove and transfer funds from your retirement accounts to personal accounts. Initially, if you need to move money, it is best to move funds that are not subject to income tax so that you can avoid tax penalties. Withdrawing early from a 401(k) or improperly rolling into a new plan can incur tax penalties of up to 20%. Don't let a simple mistake or misreading impact the next 20 years of your life. The objective of your distribution strategy is to convert funds from pre-retirement accounts into post-retirement accounts that will provide your retirement income. Sitting down with a financial planner to prepare your distribution strategy is highly recommended.