401(k) Withdrawals and Social Security: Will Cashing in Affect Benefits and Taxes?
Social Security in 2024 will be affected by 401(k) withdrawals, and it is important to understand how this might impact your benefits. As you approach your full retirement age, it’s crucial to consider the implications of cashing in your 401(k) and how it may affect your Social Security payments. Here’s what you need to know about this complex issue. Firstly, as you reach your full retirement age in 2024, your work earnings limit will be …