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Podcast: Your Financial EKGâ„¢ | Retirement Planning | Investment and Wealth Management | Financial Planning
Episode: How To Take Early 401k Withdrawal Without Penalty
Description: How To Take Early 401k Withdrawal Without PenaltyÂ
In this podcast, I want to talk about the Rule of 55 for 401k's and why if you are thinking about retiring early you should NOT rollover your 401k. Â Â
The Rule of 55 is an IRS guideline that allow individuals in retirement to pull out retirement income from their old 401k without paying the 10% penalty for early withdrawals. This rule applies to 401k's and 403b's. The rule applies whether you are let go from work or you decide to retire.Â
Why does the 401k rule of 55 matter? Beca...