Use this calculator to estimate how much in taxes and penalties you could owe if you withdraw cash early from your retirement plan.
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Taking cash out of your retirement plan is a withdrawal. If you are younger than 59½, it is considered an early withdrawal.*
Federal Income Tax Rate
Estimate your marginal Federal income tax rate (your tax bracket) based on your current earnings, including the amount of the cash withdrawal from your 401(k).
State Income Tax Rate
Estimate your marginal state income tax rate (your tax bracket) based on your current earnings, including the amount of the cash withdrawal from your 401(k).
55 Years of Age
If you left your employer in or after the year in which you turned 55, you are not subject to the 10% early withdrawal penalty.*
Rate of Return
The 10-year average rate of return for the S&P 500 Index was 5.39% annually as of August 2016. During the same period, the Dow Jones Industrial Average returned an average of 5.02% annually.
Source: S&P Dow Jones Indices, August 3, 2016. Past performance is no guarantee of future results. You cannot invest directly in an index.