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401k fees upon withdrawal? |
At age 59 1/2 would there be fees and charges on money taken out of your 401k? What if you wanted to roll it all over to a Fidelity fund? At age 59 1/2 you would have to pay only income taxes, at your current rate, for any money withdrawn from a 401k. Yes, you can roll the 401k money into any mutual fund IRA rollover account that you may choose. There is no charge to do the rollover. I rolled my 401K money into an IRA when I left my job. I wasn't even close to retirement age. I just wanted more than the 401K had to offer. We only had about 10 investments to choose from on the 401K. I had hundreds to choose from on the IRA. Just make sure you do a direct rollover so the money is never actually in your hands. |
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