Posted On: 03/15/2014 2:27:58 PM
Post# of 56324
Who Pays 38% to 15% tax gsyarber??
My shares are in my 401(k) and if and when I choose to sell there is ZERO tax liability until I reach the age of 59 1/2
Unless I choose to retire early (is that possible?) then I will pay a penalty for cashing out early. Otherwise- as my older co-workers who have already retired have told me- by the time I retire I should be in a lower tax bracket than I am now and pay less tax and only get taxed on the amount that I withdrawal. So I could in effect withdrawal $35k per year (example only) and only pay taxes on that amount and allow the rest to grow tax deferred.
I'm so glad my employer allows us to have a self directed brokerage account through Schwab
My shares are in my 401(k) and if and when I choose to sell there is ZERO tax liability until I reach the age of 59 1/2
Unless I choose to retire early (is that possible?) then I will pay a penalty for cashing out early. Otherwise- as my older co-workers who have already retired have told me- by the time I retire I should be in a lower tax bracket than I am now and pay less tax and only get taxed on the amount that I withdrawal. So I could in effect withdrawal $35k per year (example only) and only pay taxes on that amount and allow the rest to grow tax deferred.
I'm so glad my employer allows us to have a self directed brokerage account through Schwab
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