Fortunately, there are many exceptions to the 10% penalty on early retirement distributions. Some apply to both IRAs and 401 (k)s. Others pertain to only one or the other. Some are newer, added by ...

While an early withdrawal from a 401(k) may have a long-term impact on your retirement fund, it is sometimes necessary. You should still try to limit such a withdrawal to situations that allow you to ...

Key Takeaways One-third of individuals who have Vanguard-administered 401(k) plans and left a job in 2023 withdrew their ...

Early 401(k) withdrawals are those you make under age 59 1/2 without a qualifying reason. You'll pay a 10% early withdrawal penalty on top of ordinary income taxes. Consider early 401(k) withdrawals ...

There's typically a 10% early withdrawal penalty if you take money out of your 401(k) before turning 59 1/2. The IRS does offer some exceptions to this rule. Even if you qualify for an exception, ...

If you have been impacted by the coronavirus pandemic, the strict rules about taking money out of your 401K early have been temporarily lifted. Financial experts say that may sound great, but taking ...

Forbes contributors publish independent expert analyses and insights. Host of the Retire Sooner podcast and CFP™ practitioner. Happiness may be subjective, but with multiple studies suggesting ...

When facing a financial emergency, accessing money in a 401(k) plan can feel a bit like being stranded at sea: surrounded by water, yet unable to take a drink. Your money is there, it’s just not ...