Planning to take out my 401k , any suggestion ? Concerned about my taxes .

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There is a penalty if you withdraw before a certain age (i believe it's 10%), applied to the full amount of the withdrawal, in addition to taxes you'll have to pay on the full withdrawal. Really suggest talking to a CPA or financial advisor before doing this.

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There are a few exceptions to this, like for first home purchases up to a certain amount. But super second that this is a covrensation to have with a financial advisor.

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Why do you want to take money out? Maybe we can help you flesh out your options.

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You “need” to buy a “second” house. Oookkkaaayyy...

Well you’re right to be concerned because you’ll just have to pay taxes and the penalty, except in very, very specific situations that probably don’t apply to you

Ull pay a early withdrawal fee and it is counted as income so depending on how much you withdraw it can move you to another bracket. You can also just take a loan out depending on how much you need then there is no penalty.

Just did it for my mortgage...take the loan against it, and you can pay it back over 5 years no penalty

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