A 401(k) can be one of your most powerful retirement tools, but timing those withdrawals matters more than most people realize. As Peter with Richon Planning explains to Erin Kennedy if you take money out too early, you could face penalties. But on the other hand, if you wait too long, required minimum distributions could push you into a higher tax bracket. So how do you strike the right balance? In this interview, we break down: ✔️ Why tax-deferred savings matter ✔️ The rules around early withdrawals (and what they cost you) ✔️ How withdrawals are taxed after 59½ ✔️ What you need to know about RMDs ✔️ Strategies to create income without creating a tax headache The goal isn't just to save, it's to shoot for higher returns by being "tax smart." If you'd like to determine your withdrawal strategy and how it affects when you claim Social Security and what you'll pay for Medicare, please give Peter a call at (919) 300-5886 or visit www.401kDistributions.com