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I am 73 years old and still employed full time. I will receive no retirement benefits when I leave my job except for a 401. My question is: what is the best way to handle this 401 without losing too much of its value, as in taxes. I need some examples of how to keep as much as possible, as soon as possible.Do I switch it, change it, and to what? I need good sound advice.
By holding off on withdrawals from your 401, you allow your account to rebound when the market inevitably does better again. The longer it has to grow, the better. You mention not needing this money to survive any time soon, so if you’re able to avoid distributions for the near-term after retirement, such as by relying on Social Security or another income source, you could really benefit.
How you should invest your money is dependent not only on how much money you need or want in retirement, but also your comfort level.
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