CNN used Robert’s tax math to show the real cost of cashing out a 401(k) when changing jobs: on an $85,000 salary, a $15,000 cash-out costs roughly $4,500 in taxes plus a $1,500 penalty — before counting lost growth.
CNN used Robert’s tax math to show the real cost of cashing out a 401(k) when changing jobs: on an $85,000 salary, a $15,000 cash-out costs roughly $4,500 in taxes plus a $1,500 penalty — before counting lost growth.