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  2. www.investopedia.com › articles › personal-finance401(k) Withdrawal Rules: How to Avoid Penalties - Investopedia

    May 30, 2024 · According to 401 (k) withdrawal rules, penalty-free withdrawals (called qualified distributions) are allowed once you reach age 59½. And, after age 72 or 73, depending on the year you were...

    • Claire Boyte-White

  3. www.thebalancemoney.com › what-age-can-funds-beAt What Age Can I Withdraw Funds From My 401(k) Plan?

    May 4, 2024 · You can withdraw money penalty-free from your 401(k) at age 59½, or even earlier for some qualifying purposes. That's the limit set by federal law, but keep in mind your situation could be complicated if you continue working into your sixties. Check with your employer to see whether you're allowed to withdraw from your 401(k) while working.

    • Dana Anspach

  4. www.themuse.com › advice › what-age-can-you-withdrawWhat Age Can You Withdraw From 401(k)? Rules Explained

    Jul 31, 2024 · The answer is, 59 1/2 years of age—that's when you can withdraw from your 401 (k) without penalty. It's difficult to make any withdrawals at an earlier age and if you do, you might get penalized.

    • Amanda Cardoso

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  6. www.sensiblemoney.com › learn › at-what-age-should-iAt What Age Should I Start 401(k) Withdrawals? - Sensible Money

    Apr 4, 2024 · For a 401 (k) offered by your current employer, usually, you can’t take withdrawals while still working there. There are exceptions, as some plans allow 401 (k) loans or hardship withdrawals. You must check with your plan administrator to see if they allow these options. You’re age 55 to 59 ½.

  7. www.irs.gov › retirement-plans › plan-participant401k Resource Guide Plan Participants General Distribution ...

    • Required distributions. A 401(k) plan must provide that you will either: Receive your entire interest (benefits) in the plan by the required beginning date (defined below), or.
    • Hardship distributions. A 401(k) plan may allow you to receive a hardship distribution because of an immediate and heavy financial need. The Bipartisan Budget Act of 2018 mandated changes to the 401(k) hardship distribution rules.
    • Rollovers from your 401(k) plan. A rollover occurs when you receive a distribution of cash or other assets from one qualified retirement plan and contribute all or part of the distribution within 60 days to another qualified retirement plan or traditional IRA.
    • Tax on early distributions. If a distribution is made to you under the plan before you reach age 59½, you may have to pay a 10% additional tax on the distribution.

  8. www.usatoday.com › money › blueprintWhat is the 401(k) withdrawal age? - USA TODAY

    2 days ago · You can generally take 401(k) withdrawals before age 59½ if you become disabled, you have a severance from employment, your 401(k) plan is terminated or you experience financial hardship.

  9. www.fool.com › retirement › plansRules for 401(k) Withdrawals - The Motley Fool

    Jul 3, 2024 · Early withdrawals occur if you receive money from a 401 (k) before age 59 1/2. In most, but not all, circumstances, this triggers an early withdrawal penalty of 10% of the amount withdrawn. For...