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And with $700,000, you're even ahead of the average retirement savings balance of the 55 to 64 age group. ... without facing a 10% early withdrawal penalty. Usually, you have to wait until age 59 ...
If you “separate from service” as early as age 55, you can take penalty-free withdrawals. ... so you’ll have at least seven years of retirement without Social Security benefits. Retiring at ...
The rule of 55. This last rule of thumb deals with the tax implications of retiring early. ... you’d face a 10% tax withdrawal penalty for making a withdrawal from a tax-qualified retirement ...
Here’s how to retire at 55. ... That leaves you more than four years with a nest egg that you can’t access without losing 10% of it to an early withdrawal penalty.
Age 55: “Age 55 is important because if someone retires after reaching 55, then they can get access to the company retirement plan from where they retired without paying a 10% early withdrawal ...
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