Rhode island 401(k)/IRA Withdrawal Calculator
Calculate 401(k)/IRA withdrawal tax and plan your retirement in Rhode island
US IRA/401(k) Information
- Withdrawals before age 59½ incur a 10% penalty (exceptions apply).
- RMDs begin at age 73 and are mandatory to avoid penalties.
- This calculator estimates both early and retirement-age withdrawals.
- See IRS RMD rules.
Understanding US IRA and 401(k) Withdrawals
Traditional 401(k) plans and Individual Retirement Accounts (IRAs) are the most common ways Americans save for retirement. These accounts are tax-deferred, meaning contributions reduce taxable income now, but withdrawals are taxed in retirement.
Key Tax Rules for Withdrawals
- Withdrawals before age 59½ may incur a 10% early withdrawal penalty.
- From age 73, you must take Required Minimum Distributions (RMDs).
- All withdrawals are added to your taxable income and taxed at federal and state rates.
Our calculator estimates both early and retirement-age withdrawals, factoring in federal tax brackets and your selected state’s income tax.
Why This Calculator Matters
Whether you're withdrawing to supplement income or meet your RMD, knowing the tax impact is essential for retirement planning. Use this tool to avoid surprises and explore tax-efficient withdrawal strategies.
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