make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

The government can't touch it?

You had better take a closer look at the laws covering your 401k. Unless you have a Roth 401k (paid with after-tax contributions, fairly new, and very rare) your 401k is taxed as normal income when you start drawing on it. A conventional 401k is tax DEFERRED, not tax exempt. The government lets you forget about taxes now, knowing that you will have to pay them later.

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.