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Retirement tax questions
Tapping your retirement funds will have a tax affect. I would look at different ways to finance that move if possible. You may want to visit with a CPA or financial advisor who can do a tax projection since taking such a large amount of your retirement savings will cost you. Weighing the tax consequences of the distribution against financing the money needed could provide you with insight needed for future costs/needs. I'd hate for you to deplete your life savings to make this happen. If you believe you have enough income to offset living expenses for the next decade and have the liquidity to take such a large distribution then go for it! Stay informed each step of the way!
‎July 26, 2023
10:03 AM
1,451 Views