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The rule of 55 is an IRS provision that allows workers who leave their job for any reason to start taking penalty-free distributions from their current employer’s retirement plan in or after the ...
Employer-sponsored, tax-deferred retirement plans like 401(k)s and 403(b)s have rules about when you can access your funds. As a general rule, if you withdraw funds before age 59 ½, you’ll ...
The rule of 55. This last rule of thumb deals with the tax implications of retiring early. ... a withdrawal from a tax-qualified retirement plan like a 401(k). ... to start drawing penalty-free ...
Employer-sponsored, tax-deferred retirement plans like 401(k)s and 403(b)s have rules about when you can access your funds. As a general rule, if you withdraw funds before age 59 ½, you'll ...
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If you have a 401(k) at work, you might follow the Rule of 55 … Continue reading → The post Rule of 55 vs. 72(t): Retirement Plan Withdrawals appeared first on SmartAsset Blog.