The Stimulus Bill Allows You To Withdraw $100,000 From Retirement Accounts With No Penalty Fees!!!

For a limited time, Americans would be able to withdraw money from tax-deferred accounts without penalties under a stimulus package approved by Congress on Friday. Rules on 401(k) loans would also be relaxed, and some retirees would avoid required minimum distribution rules that might have been onerous.

One provision in the bill would let investors of any age take as much as $100,000 from retirement accounts this year without paying an early withdrawal penalty.

They also could avoid taxes on the withdrawal if the money is put back in the account within three years. If it can’t be returned, taxes could be paid over three years.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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