If you have a traditional IRA and you’re nowhere near 59½, you’ve heard the warning: pull money out early and the IRS slaps a 10% penalty on top of regular income tax. There’s a workaround written ...

Forbes contributors publish independent expert analyses and insights. Host of the Retire Sooner podcast and CFP™ practitioner. Many investors gain penalty-free access to retirement accounts at age 59½ ...

This 401(k) withdrawal strategy can double your annual payout before age 59.5. Here's how it works and what it means for you.

A 401(k) can be a powerful part of your retirement savings, especially with a matching contribution. If you make an early withdrawal from a traditional 401(k) retirement plan, you must pay a 10% ...

Annuities serve as a reliable income source, offering protection against the risk of depleting savings in retirement. They are contracts between individuals and insurance companies, where premiums are ...

In a recent monthly newsletter, IRA expert Ed Slott discussed the ways in which investors can avoid the early withdrawal penalty when they withdraw assets from their retirement accounts prior to age ...

If you have a 401(k) and a lot of outstanding bills or a surprise expense, you may be considering raiding your account. According to a 2025 Vanguard report, early 401(k) withdrawals have reached an ...

What Is an Early Withdrawal? Early withdrawal is the removal of funds from a fixed-term investment before the allowed date. Early withdrawals can be made from investment vehicles such as annuities, ...

While a SEPP plan protects you from a 10% early withdrawal penalty, you must still pay ordinary income taxes on the amount withdrawn. No matter how much you need access to the funds in your retirement ...

Generally, a 401(k) withdrawal is considered "early" if it happens while you're under age 59 1/2. You typically face a 10% early withdrawal penalty for doing this, but there are exceptions: If any of ...