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- Guidelines for 401k withdrawal are as follows12:
- For a traditional 401(k) or IRA, you must be 59 1/2 before you take distributions, or you'll face a 10% penalty in addition to income taxes.
- For a Roth 401(k) or Roth IRA, you can withdraw your contributions at any time, since they were made with post-tax dollars.
- Withdrawals from a 401(k) are mandated after age 73 or 75, depending on the year you were born, and are called required minimum distributions, or RMDs.
- If you retire after age 59½, you can start taking withdrawals without paying an early withdrawal penalty.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.For a traditional 401 (k) or IRA, you must be 59 1/2 before you take distributions, or you'll face a 10% penalty in addition to income taxes. For a Roth 401 (k) or Roth IRA, you can withdraw your contributions at any time, since they were made with post-tax dollars.
www.thebalancemoney.com/how-to-withdraw-mon…Withdrawals from a 401 (k) are mandated after age 73 or 75, depending on the year you were born, and are called required minimum distributions, or RMDs. If you retire after age 59½, you can start taking withdrawals without paying an early withdrawal penalty.
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