Wall Street Journal

Excerpt: “When most people reach this stage in life they find their homes too big and are looking to downsize,” says Dan White, president of Daniel A. White and Associates, a Glen Mills, Pa., firm that manages $82 million in assets for 370 clients. The pension benefits, supplemented by the couple’s Social Security, were enough to cover their retirement expenses. So Mr. White turned to $100,000 that the husband had saved in his 401(k). He suggested they withdraw $40,000 from the account, putting $30,000 toward the kitchen renovation and using the rest to pay the taxes on the withdrawal.    See More

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