[Tennessee Conservative]

Since I’m over 55 I didn’t pay the 10% early withdrawal penalty. It’s not considered an early withdrawal. They took 20% off the top but I got most of that back. My husband retired 20 years before I did.

I sold some stock this year to buy my new SUV to be able to pay cash. I don’t know what that will do to this years taxes but since both of us are on SS we are in a low income bracket.

We do very well on SS. The farm is paid for, the vehicles are paid for, we have NO debt at all, and we live in a low cost of living, no state income tax state. Having so much in the 401K allowed me to live off of that for four years and the Fed. income tax was deducted with each monthly check. At the end of the year I got most of it back. LOL

It was prior planning. I didn’t want to be in debt in my 50’s and end up having to work into my 60’s and 70’s. My husband is a lot older than I am and was in his 70’s when I retired. He was starting to have some mild dementia issues and was having a really hard time keeping up with my work schedule. I needed to be here earlier than 65.

[rodguy911]

Its different for different people. I wound up working now in my 70's since my small business took off a few years ago and rocketed toward the moon this year.

I thought I would be out fishing by now. But, instead I show prospective customers how to "parking lot fish",its not as much fun but pays well. I have to learn how to escape from the parking lot:

[WildHighlander57]

Many thankQs for that info!

I’ve done similar but not touched the 401k.

I have socsec and a pension, so had the pension distribution figured so socsec isnt taxed; part of pension goes to IRA and part to the credit union, and any tax on pension gets refunded at the end of the year.