Mistakes to Avoid When Taking Withdrawals From Your 401k

Everything has led to this: You’ve contributed to your 401k, you’re invested the assets, and finally the time has come to withdraw the money. In this episode of The Agent of Wealth Podcast – the third in a three-part series on 401ks – host Marc Bautis shares some of the biggest mistakes people make at retirement age, when taking withdrawals from their account(s).In this episode, you will learn:Various tax implications to consider when creating a withdrawal strategy for retirement.Issues to consider before taking a loan from your 401k.What Rule 72(t) periodic payments are.The six retirement options you have when you leave your job.And more!Listen to the first part, Mistakes to Avoid When Contributing to Your 401k. Listen to the second part, Mistakes to Avoid When Investing In Your 401k.Resources:Episode Transcript & Blog | Part 1: Mistakes to Avoid When Contributing to Your 401k | Part 2: Mistakes to Avoid When Investing In Your 401k | Schedule an Introductory Call | Bautis Financial: 7 N Mountain Ave Montclair, New Jersey 07042 (862) 205-5000Timestamps:0:32 - Introduction | Withdrawal Overview 1:05 - Mistake #1: Not Considering Tax Implications on 401k Withdrawals5:44 - Mistake #2: Issues When Taking a Loan From Your 401k7:46 - Mistake #3: Not Taking Advantage of Rule 72(t) Periodic Payments9:34 - Mistake #4: Not Considering All Your Options When You Leave Your Job