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by froindt
3192 days ago
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Knocking off 18k for 401k and 5.5k for a Traditional IRA dramatically reduces the tax liability. I recognize 50k-32k = 18k (so the full 23.5k can't be executed in this case), but it makes a significant difference regardless. And there are methods to pull this money out well before the standard ages without penalty, such as Substantially Equal Periodic Payments (SEPP). |
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