Half of your 401k are taxed at distribution and before that can incur market risks since there is no downside protection like the index annuities, index IULs or guaranteed whole life insurance. So the government few years ago, allowed employees to take control of a portion of their 401k to avoid market risks and taxes during distribution.
Contact Connie Dello Buono CA Life Lic 0G60621 at 408-854-1883 firstname.lastname@example.org to help you navigate with index annuities, index IUL and whole life insurance.
The general rule is that individuals cannot take a distribution from their 401(k) until a triggering event occurs (for example, you are terminated from your employment or retired). However, if the 401(k) plan document permits, you may be able to take a distribution of certain employer contributions even while you are still working.
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If you need a financial planner who will strategically prepare you for any events in the future to secure you financially and protect your wealth, call Connie.