Paul Katzeff is an award-winning journalist who has written four books about how to grow your 401(k) retirement nest egg and one about internet investing. He has worked as a senior reporter/writer at ...

Qualified distributions are allowed at age 59½, but an exception may allow you to make a penalty-free withdrawal Fact checked by Betsy Petrick Reviewed by David Kindness Employer-sponsored 401(k) ...

Generally, you should only make 401(k) withdrawals as you enter retirement, but there are certain situations in which you may do so earlier in life. Generally, withdrawing money from a 401(k) can take ...

A vast majority of American workers participate in and rely on 401(k) plans to grow and fund their retirement. The way 401(k) plan participants maximize its benefits is to contribute enough of their ...

Withdrawing your 401(k) early may offer a way out of a tricky financial situation, but early withdrawals generally come with consequences too. If you withdraw money from your 401(k) before you reach ...

More Americans are pulling money from their 401(k)s before retirement than ever before. According to Vanguard's latest data, 4.8% of account holders made hardship withdrawals in 2024, up from 3.6% in ...

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A third of Americans’ financial assets are held in retirement plans, according to data from the Investment Company Institute. In September 2024, those accounts represented more than $42 trillion in ...

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You can access money in your 401(k) only in certain circumstances. All 401(k) withdrawals from pretax accounts are subject to income tax, and an early withdrawal may also be subject to a 10% penalty.