Buddy M

Thanks, ratherbereading we will I know it will be a blast

Thanks David for telling me about the rollover and Lou I really appreciate your reply as I have nothing to worry about withdrawing the money where it is already taxed. I had planned never to touch my 401K and I thought 5000,00 really wouldn’t hurt me as long that I had taxes taken out though I still worried. I have been married for 40 years in April so my wife and I are going to Maui flying first class and renting a beautiful condo on Kaanapali Beach. My wife has stage 4 breast cancer so we are celebrating our 50th on the 40th because she might not be around in 10 years, I hope she will be but we don’t the future. I needed the money for the deposit on the condo.

Though just paying taxes as if it were a paycheck from my work I’m thinking I should be okay. I might just save $500.00 in case of extra taxes. Actually I’m 61 and retired from UPS a few years ago.

Thanks Bob, I’m just hoping I don’t have to pay penalty taxes because I didn’t place it in Roth account

Thanks David

I'm 60 years of age and withdrew out of my 401K for $5000.00 they took out $10.00 for a processing fee and $998.00 for Fed tax and $99.80 for Calif state tax ending with a check of $3892.20, do I need to worry about having a penalty or paying more taxes on this money?