Your 401(k) Could Be Worth Millions. But How Much Will the IRS Take?

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Издатель Nov 5, 2026

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Your 401(k) could be worth $1 million, $2 million, or even $3 million by retirement, but how much of that money will you actually keep after taxes? In this video, I break down how federal income taxes can affect Traditional 401(k) withdrawals using 2026 tax brackets and real retirement income examples. You'll see how much someone might owe when withdrawing $50,000 from a $1 million account, $100,000 from a $2 million account, or $150,000 from a $3 million account, and why being in a 24% tax bracket doesn't mean every dollar is taxed at 24%. We'll also explore how a military or FERS pension can change your tax bill, how Social Security benefits may become taxable when combined with 401(k) withdrawals, and how additional deductions for retirees can affect the final numbers. Then, I'll walk through four strategies to help manage your retirement taxes: Roth conversions during lower-income years, planning withdrawals before Social Security begins, coordinating Traditional, Roth, and taxable brokerage accounts, and considering how withdrawals can affect Medicare premiums through IRMAA. Whether you're approaching retirement or already planning how to spend your savings, understanding the difference between your account balance and your after-tax income can help you build a smarter withdrawal strategy and make your retirement money last.