The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Retirement at 55||Date: 12/7/1999 7:24 PM|
|Author: Bobbcat||Number: 15948 of 76398|
You can tap your 401(k) at age 55 w/o penalty.
Just don't transfer it to an IRA until you reach age 59 1/2, or you lose the penalty exception. (This is ONLY because you are retiring at age 55 or later.)
The SEPP rule that Badger mentioned is available to anyone, but carries stiffer penalties than the original 10% if you change distributions before the time period is up.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|