- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 401k options if ready to retire early?
Posted on 6/13/23 at 8:34 am to BabyTac
Posted on 6/13/23 at 8:34 am to BabyTac
Before 59.5, there are two typical options to withdraw penalty free:
1) 72t https://www.investopedia.com/terms/r/rule72t.asp
2) Rule of 55. Some 401k plans allow taking distributions penalty free if u retire at age 55. From what I understand this is plan dependent and may have special rules etc.
Sometimes the IRS has special exceptions for certain years if you are in a natural disaster area or covid for example back in 2020.
ETA: bod312 beat me to it. I was updating my post for Roth conversions.
1) 72t https://www.investopedia.com/terms/r/rule72t.asp
2) Rule of 55. Some 401k plans allow taking distributions penalty free if u retire at age 55. From what I understand this is plan dependent and may have special rules etc.
Sometimes the IRS has special exceptions for certain years if you are in a natural disaster area or covid for example back in 2020.
ETA: bod312 beat me to it. I was updating my post for Roth conversions.
This post was edited on 6/13/23 at 8:38 am
0
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News