Originally Posted by Tod74
Originally Posted by ashtrak
You gotta love Christmas year round with a 401K
The only bad part is you get taxed on that money twice.The 401k deposites are made from pre tax dollars but you repay yourself with
post tax dollars....so when you eventually draw it out at retirement ,you have to pay the tax on it again.
Awe yes, the dreaded double tax, I think all of us have done it at one time or another.
I used my entire 401K I aquired working at coors (7years worth) after my divorce in 08, I had too, I needed a house!
Talk about taking a hit at tax time, jezzzz!
Cp