In this episode of “Your Telecom Retirement,” we dig into the crucial topic of withdrawing money from your 401k in retirement. We start by discussing the shift in retirement funding from pensions to social security to 401k plans. We then explore the strategies for withdrawing from a 401k, including the traditional 5% withdrawal rule and the importance of considering your age and portfolio composition. Join us as we navigate the potential pitfalls and the importance of getting your withdrawal strategy right. What You’ll Discover: [00:01] An introduction to the importance of 401k in retirement planning. We shed light on why your 401k is more relevant to your retirement than you might think. [01:16] The traditional 5% withdrawal rule and its implications. We explore how this strategy works and why it’s not a one-size-fits-all solution. [01:32] The role of age and portfolio composition in deciding withdrawal rates. We delve into why these factors are crucial in determining how much you should withdraw. [05:14] The flexibility of withdrawing from a 401k and how to set it up. We discuss how you can customize your withdrawal frequency to match your needs. [07:30] The importance of considering taxes when withdrawing from a 401k, highlighting why understanding your tax obligations is critical to avoiding a tax surprise. [09:20] The significance of getting your withdrawal strategy right. We emphasize why mistakes can have significant consequences and how to avoid them. Join us in this episode as we navigate the complex world of 401k withdrawals and show you how to make the most of your retirement savings! EPISODE LINKSYou can download a free digital copy of Dennis’ book “Retirement Built Right – The Essential Guide for Telephone Employees!” here: https://theverizonguy.pages.ontraport.net/ebookoptin ABOUT THE SHOWTap into Dennis O’Keefe’s 30+ years of experience helping telecom employees maximize their company-specific benefits packages for situations including early retirement, buyout offers, career changes and more! Featuring actionable, practical how-to advice along with stories of REAL telecom employees Dennis has helped navigate through every benefits situation imaginable, each episode of “Your Telecom Retirement” focuses on how to maximize the money you take out of your time working for telecom. Dennis’ expertise has been featured by Business Insider, The Boston Globe and Yahoo! Finance. Connect with Dennis on LinkedIn: https://www.linkedin.com/in/dennisokeefe-/ Visit Dennis’ website: https://www.successfulmoney.com/