What happens to my Solo 401k when I turn 59.5 years of age?

October 7, 2022 | By George Blower

Self-directed 401k Question Answered – What happens to my Solo 401k when I turn 59.5 years of age?

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Self-directed 401k Question:

I am looking to set up a Solo 401k in order to invest in rental real estate properties. Do I have to take a distribution when I turn 59.5 years of age?

RESPONSE

No – when you turn 59.5 years of age you are eligible to take a distribution without incurring a pen alt y, but you are certainly not required to take a distribution.

Tags: required minimum distributions, retire, self-directed 401k, self-employed 401k, Solo 401k, withdrawals

About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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