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The 10% Penalty is Looming: Considerations For Taking An Early Withdrawal

Peter Mallouk

Peter Mallouk and his guest, Dan Donegan, discuss the potential IRS penalties you could incur by withdrawing your retirement funds early. They also cover the tax ramifications you could experience and what options you may have to withdraw money early without facing IRS penalties.  Listen in to explore your distribution options if you are under age 59½.

The 411 on 401(k), hosted by Creative Planning President Peter Mallouk and the Creative Planning 401(k) advisory team, is an informed discussion aimed at  answering the many questions participants may have about their retirement accounts. Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies that ensure a more prosperous future.

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More Episodes

Coping With Inflation

This month, Peter Mallouk and Jonathan Clements discuss inflation’s effect on everything from bonds to home prices and what actions you should — and should not — take to potentially mitigate your risk.

Hear more on inflation here: https://creativeplanning.com/podcast/37-episode-37-the-potential-recession-the-personal-impact-of-inflation-and-the-role-of-bonds-in-your-portfolio/

Taxation on Investment Income Explained

Let Tax Directors Candace Varner and Ben Hake help you avoid surprises on Tax Day! Listen as they discuss the ins and outs of taxation on many common types of investment income (including interest income, capital gains distributions and several types of dividends) as well as the importance — and timing — of K-1s.

“Your wealth works harder when it works together.”

Peter Mallouk

President & CEO, Creative Planning

Serving Clients Nationwide

50

STATES & ABROAD

Providing financial peace of mind across the globe

$225

BILLION

Combined assets under management & advisement as of December 31, 2021