Fortunately, there are many exceptions to the 10% penalty on early retirement distributions. Some apply to both IRAs and 401 ...

Usually, taking an early withdrawal from your 401 (k) or IRA means paying an extra 10% penalty on top of income taxes. There ...

There's usually a 10% early withdrawal penalty if you take money out of your 401(k) under age 59 1/2. The Rule of 55 lets you take funds from your most recent employer's 401(k) without penalty if you ...

A 54-year-old with $4M in a 401(k) has eight times the average balance for people in their 50s. The rule of 55 allows penalty-free 401(k) withdrawals if you leave your job in the year you turn 55 or ...

If you try to withdraw early from just about any retirement plan, you'll be slapped with a penalty—an incentive to leave your money alone and let it build toward retirement like you always intended.

Forbes contributors publish independent expert analyses and insights. Host of the Retire Sooner podcast and CFP™ practitioner. Many investors gain penalty-free access to retirement accounts at age 59½ ...

An early withdrawal penalty is a penalty incurred when withdrawing funds from a retirement account before a certain point in time. Early withdrawal penalties typically apply to retirement accounts or ...

Matt Danielsson has 21+ years of writing experience and 7+ years as a financial advisor. He is the founder of Danielsson Enterprise. Marguerita is a Certified Financial Planner (CFP), Chartered ...

Discover the benefits and drawbacks of using your 401(k) to pay off your mortgage, including tax implications, retirement savings impact, and interest savings.