High earners don't need to overhaul their investment strategy, but should revisit their retirement plan to understand how this rule might reshape their taxes.

Your job might come with a 401(k). Put it to use.

Most 401(k) plans allow workers to withdraw money early. Early withdrawals are typically taxed as income and may be subject to a 10% penalty. The IRS waives the 10% penalty in certain circumstances.

If you're in your 40s and have over $40,000 saved for retirement, you're ahead of most people in your age bracket. However, you may need to take some proactive steps in order to retire comfortably.