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Will my 401k withdraw effect my social security benefits?
I am retired at age 53 and receive a monthly pension. At 62 I filled for social security and also receive monthly benefits. I have a 401k from where I retired and want to withdraw it all to help purchase a home (not a first time buyer).
1) Will withdrawing my all my 401k effect my monthly social security benefits? 2) Withdrawing my 401k plus my monthly pension and social security benefit will total a one-time income of $136,000. How will this effect my income tax for that year? |
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