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Pixey: One more question...

If I do all you tell me I have to do to take possession of my 401k at 55 without penalty, how does this work? Say I had $100,000 in my 401 & retired at 55. Do I withdraw all of this money & roll it over unto an IRA (but you said I can't withdraw this money until it's 59-1/2 once this is done) or alternatively would I pay a hugh income tax bill on this lump sum distribution in one year? Do I have to leave it in my employer's plan & withdraw as needed? What if my former employer discontinues their 401 plan or whatever when I'm retired & age 56? Is here such a thing as a 401 rollover to keep ths money under the (supposedly) more age liberal 401 rules?
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