Retirement is a journey, and managing its financial aspects shouldn't be a maze. Enter Form 1099-R, a key document that often puzzles many at tax time. This guide is not just about decoding a tax form ...

Paul Katzeff is an award-winning journalist who has written four books about how to grow your 401(k) retirement nest egg and one about internet investing. He has worked as a senior reporter/writer at ...

Generally, you should only make 401(k) withdrawals as you enter retirement, but there are certain situations in which you may do so earlier in life. Generally, withdrawing money from a 401(k) can take ...

Qualified distributions are allowed at age 59½, but an exception may allow you to make a penalty-free withdrawal Fact checked by Betsy Petrick Reviewed by David Kindness Employer-sponsored 401(k) ...

A vast majority of American workers participate in and rely on 401(k) plans to grow and fund their retirement. The way 401(k) plan participants maximize its benefits is to contribute enough of their ...

More Americans are pulling money from their 401(k)s before retirement than ever before. According to Vanguard's latest data, 4.8% of account holders made hardship withdrawals in 2024, up from 3.6% in ...

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A third of Americans’ financial assets are held in retirement plans, according to data from the Investment Company Institute. In September 2024, those accounts represented more than $42 trillion in ...

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A hardship withdrawal is limited to the amount necessary to satisfy the financial need. This type of withdrawal should be a last resort. Better alternatives may include emergency funds, loans and ...

You can access money in your 401(k) only in certain circumstances. All 401(k) withdrawals from pretax accounts are subject to income tax, and an early withdrawal may also be subject to a 10% penalty.