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"Since I will attain age 53 in the year that I retire can I leave the money in my 401K until I reach 55 and then make withdrawals subject just to ordinary income taxes?"

There was a thread on this subject on The Retire Early discussion board recently. See

http://boards.fool.com/Message.asp?id=1380025001446016 and

http://boards.fool.com/Message.asp?id=1380025001446017

I believe the result was that you cannot take withdrawals from your 401k without penalty after 55 if you retire before 55.
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