#job-burnout

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#retirement-planning #early-401k-withdrawal #financial-decision-making #career-transitions #inherited-ira
Relationships
fromSlate Magazine
3 months ago

I'm Totally Burnt Out on Work. I Know How I Can Get Some Freedom, But My Friend Warns That It'll Ruin Me.

Withdrawing $80,000 from a 401(k) early results in approximately $30,000 in taxes and penalties, leaving only $50,000, which may deplete faster than expected and creates significant financial and career risks.
Real estate
fromwww.morningstar.com
4 months ago

'I'm ready to walk away': I have $400K in retirement savings and want to quit my job of 30 years. Can I do it?

A 62-year-old with $227,520 in a 401(k), ~$180,000 inherited IRA, $80,000 savings, and $1,900 Social Security contemplates retirement using the IRA to bridge to Medicare.
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