Americans are pulling money out of their 401(k) funds at record rates

[DFW]

9. So it would appear.

I was never told. I guess I never expected to be this old. I’m still completely unaware if this means I’m now allowed to touch the rest of my own volition while still working or not (I was told not). If they’re going to pay me out at 2% per year (what this was), and expect me to live to the age of 123, they know something about medicine that most doctors don’t.

I also had no chance to figure out a tax strategy, or if it’s even worth the effort. I don’t know if the IRS gets the tax on this, or if the Germans do. I don’t think 401k distributions are addressed in the Double Taxation Treaty, so maybe it will get treated like much of the rest of my income, and taxed by both (39% in the USA and 47% in Germany—with a few allowances, bringing my net income tax rate “down” to the 73% I’m being asked to pay on most of the rest). If that’s the case, they might as well not bother with the paperwork, and just send the check to the Cape Cod Save The Hermit Crabs Fund, or whatever. For 2%, the paperwork will probably end up costing more than the post-tax amount I get to keep.