Nostr Web Client

Hey #Boomers

Want an Argument for #Bitcoin

Call your #401k provider and request a withdrawal.

You'll get

#paperwork

#3rdparty approval

#taxed at 20% by the

#irs

and that's not all!

The #State gets a slice of your ass too!

#Wow 🤬🤬🤬🤬🤬

One flaw here is most boomers are old enough that they won't pay tax on 401K withdrawals.

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I'd like to know how that works.

This is not an early withdrawal. It's a normal withdrawal. (My first)

The only way to ease the tax burden is to Take a loan against or transfer to a Roth

Or take out so little you will have no taxable income

True,

I was testing the waters on what a withdrawal might look like for future.

Going to have my accountant look at all the variables.

I was mostly looking to shield it as much as possible