401 (k)s and traditional IRAs are similar when it comes to their withdrawal rules. In both cases, you’ll pay a financial penalty for distributions before age 59½ unless certain exceptions apply.

Early withdrawals from your 401(k) plan usually incur penalties and taxes. Learn how to avoid additional taxation and the 10% when withdrawing early.

Most people enter retirement without any idea how to manage withdrawing their savings without running out of money. Here is ...

Forgetting to take your first RMD by April 1 in the year after you turn 73 can result in a significant tax penalty. “If you ...

If you withdraw money from a 401(k) before age 59½, you may incur an additional 10% penalty. Learn the rules for hardship withdrawals and exceptions to the penalty.

There are a few ways to withdraw money from your 401 (k) early. But whether you should depends on why you need the funds and if the early withdrawal penalty is worth it.

Based on 401 (k) withdrawal rules, if you withdraw money from a traditional 401 (k) before age 59 1/2, you will face — in addition to the standard taxes — a 10% early withdrawal penalty.

Domestic Abuse Victims under the age of 59 1/2 qualify for a hardship withdrawal of up to $10,000 from 401-K accounts that will waive the 10% early withdrawal penalty.

Several other factors can influence how long it takes to withdraw money from a 401 (k). These include the efficiency of the plan administrator and the method of withdrawal.

You can usually make a 401 (k) withdrawal with no tax penalty at age 59 ½. If you leave your job during or after the year you turn 55 you can withdraw from your 401 (k) immediately without penalty.