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I was under the impression that the age of withdrawing money from a IRA or from a 401k without penalty are different in that the former is 59-1/2 while the latter is 55. In the IRA you can withdraw earlier by taking essentially equal amounts using some kind of formula; don't know if that holds true also for the 401k, but my understanding is that if you retire at 55, you can withdraw all or any portion of your money without penalty and without adhering to any schedule. Comments?
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