Paying taxes on 401K

[TC3]

What is the name of your state? Ny

Hi.
I am from New York City. Age: 50.
My current 401k is about 300k.
In 10 years I will be withdrawing about $2500 per month for a total of $30,000 per year..

(Q) Based on the current tax rate today, how much will be deducted (per month) from my $2500 withdrawal?

(Q) Would it be better to withdraw a lump sum of 30,000 to be taxed or it does not make a difference?


Thanks.
TC.

 

[abezon]

Withholding from retirement plans is 10% on lump sum withdrawals. Withholding from periodic depends on how you filled out the Form W-4 (marital status, number of exemtions). You can choose to have nothing withheld from a pension/IRA.