At some point in the future, you will no longer be working where you are. Whether it’s because you retire, get laid off or change employers, it’s your responsibility to be prepared. It’s a necessity -- your retirement depends on it.
That’s because when it comes to your pension funds, you have several options open to you when you leave your job. And if you don’t know what those options are, and choose the wrong one, you will have the IRS smack dab in the middle of your IRA. This means your chances of having the opportunity for long-term tax deferred wealth building become very slim.
Option 1: Taking a lump-sum distribution (cash out)
Off the top, you will lose 20% of your accumulated money because your employer is required to withhold this am View the rest of this article
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