Question

 Can I take money from my 401(k) at age 55?

Answer You can take money out of your 401k if you permanently leave your job for any reason after turning 55. If you are still working, you must wait until age 59 1/2 to take a qualified withdrawal from a... Read More »
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Top Q&A For: Can I take money from my 401(k) at age 55

Can the IRS take money in a 401k for tax debt?

Yes, the IRS can seize garnish funds from a 401k retirement account to cover an unpaid tax debt. However, the IRS must first send a Notice and Demand for Payment letter stating the exact amount ow... Read More »
http://www.answerbag.com/q_view/2249703

When do I take money from my 401k account?

On One Hand: Mandatory DistributionsTaking money out of a qualified retirement plan, such as a 401(k), requires a few careful considerations before doing so. Generally, if taken out before age 59.5... Read More »
http://www.answerbag.com/q_view/1953885

When do you have to withdraw money from an IRA 401k?

If you have a 401k or a traditional, simplified employee pension (SEP) or savings incentive match plan for employees (SIMPLE) IRA, you are required to start taking withdrawals by April 1 the year y... Read More »
http://www.answerbag.com/q_view/2210227

Should I borrow money from my 401k?

On One Hand: Don't Tap Your Nest EggYour 401k plan represents your retirement savings. If you take a loan, you hamper your ability to continue to contribute money to your 401k plan. If you fail to ... Read More »
http://www.answerbag.com/q_view/1998104


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