President Barack Obama Message Board

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Politics : President Barack Obama

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To: Bread Upon The Water who wrote (19793)	5/1/2008 10:13:05 AM
From: Wharf Rat	Read Replies (2) of 149317

Withdrawals from IRAs and 401Ks get taxed at your regular rate; everything you take out. Withdrawals from Roth IRAs and 401Ks are entirely tax free. I'm hoping to take out just enuf so I don't get taxed. I did some playing around with numbers a few years ago, and I think, in addition to SS, I can earn 15K & still avoid taxes. My hope is to withdraw as little as possible and let my kids inherit it. Unless the gvt begins to spend money the way I want it to, in which case I'll take out more and pay the taxes.

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