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Can I Get Money From My 401(k) at 55?

Learn whether you can qualify to supplement your income.

By Motley Fool Retirement Team – Updated Nov 25, 2024 at 8:35PM

Key Points

  • 401(k) withdrawals before age 59 1/2 typically incur a 10% penalty plus income taxes.
  • The "rule of 55" lets older Americans withdraw from a 401(k) penalty-free starting at age 55.
  • Maximize penalty-free withdrawals by rolling previous 401(k)s into your current one.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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