European Tribune - Comments - The Profligate American Baby Boomers.

The Profligate American Baby Boomers. | 5 comments (5 topical, editorial, 0 hidden)

Re: The Profligate American Baby Boomers. (none / 0)

Thanks for this wchurchill, unfortunately I'm pretty ignorant about various bits of getting old in the US.

Questions:

What is the withdrawal scheme for 401k's? (i.e. is it any time, or over a certain age?)

Are there restrictions on rate of withdrawal?

by Metatone (metatone [a|t] gmail (dot) com) on Fri Feb 17th, 2006 at 03:46:12 PM EST

Re: The Profligate American Baby Boomers. (none / 1)

I must admit I'm not there yet and don't understand the details like I should. I think it's along the following lines though--you can start taking it out after 62, and you must start taking it out by 70. I believe you can set a dollar amount or a percentage--though at 70 I think you must start taking 10% per year.

This is the concept anyway,,,but perhaps someone with more knowledge can correct the specifics if I'm wrong.

by wchurchill on Fri Feb 17th, 2006 at 06:32:14 PM EST
[ Parent ]

The Profligate American Baby Boomers. | 5 comments (5 topical, 0 editorial, 0 hidden)

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