How much tax you owe on an individual retirement account (IRA) withdrawal depends on your age, the type of IRA, and other ...

Blake has over a decade of experience writing for the web, with a focus on mobile phones, where he covered the smartphone boom of the 2010s and the broader tech scene. When he's not in front of a ...

If you’re approaching or already in retirement, knowing your safe withdrawal rate is key to making your money last. This is the percentage you can take out of your retirement savings each year without ...

If you’re thinking about taking money from your 401(k) — maybe you need extra funds or you’re getting close to retirement — taxes might be on your mind. A 401(k) is usually a great tool for lowering ...

Life happens. Your reliable job disappears. A healthy spouse endures a medical crisis. And your child’s college tuition is about to come due. If you have been able to build an emergency fund, that ...

Most 401(k) plans allow workers to withdraw money early. Early withdrawals are typically taxed as income and may be subject to a 10% penalty. The IRS waives the 10% penalty in certain circumstances.

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Withdrawing money from a savings ...

Candice Reeves is a financial writer based out of Nova Scotia. She specializes in personal finance, investing, and cryptocurrency. Her work is featured in leading publications across various ...