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•Ask an Advisor: I'm 73 and My 401(k) ‘Hasn't Been Doing Well.' Should I Withdraw My Money and Invest in CDs?
73% Informative
Yo 73 desire for some stability is completely r the last few years ould be careful not to move too quickly in search of it.
Instead, I would encourage you to find a balance that allows you to get the best of all worlds.
If you withdraw your entire 401(k) in a single year, it's likely that a large po Archie of that balance will be taxed at the highest rates.
The tax hit now could significantly reduce the odds of your money lasting as long as you need it to.
If you don't have a financial advisor yet, finding one doesn't have to be hard.
SmartAsset's free tool matches you with up to three vetted financial advisors who serve your area.
Consider a few advisors before settling on one before deciding which one you feel is righ The Tax Cost Is Real While mmaryFeed_highLightText__NxlGi">SmartAdvisor Match two ryFeed_highLightText__NxlGi">Matt First ed_highLightText__NxlGi">SmartAsset CFP a single year att Becker up to three SmartAsset one to three years Second ghLightText__NxlGi">Bottom Line July 21, 2023 5.12% thr each year span> 40% 60% the Vanguard LifeStrategy Moderate Growth Fund 2021 between 0.14% and 1.72% one-year one to three years
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