The Tax Evasive Route to Early Retirement The traditional narrative surrounding retirement planning emphasizes patience and restraint, urging individuals to let their savings compound over time before tapping into them in retirement.
However, a growing number of retirees are defying this conventional wisdom by opting for early withdrawals from their 401(k) accounts. Couples with substantial retirement portfolios – specifically those with $1.
4 million or more in traditional 401(k)s – are withdrawing roughly $60,000 per year starting at age 62 instead of waiting until the IRS requires them to take distributions at 73.