• The rule of 55 lets you tap into your 401 early without paying a penalty, but only if you meet the age requirement and other terms

    10 days ago - By Business Insider

    The rule of 55 can help middle-aged 401 account-holders plan early retirement.
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    The rule of 55 is an IRS provision that allows those 55 or older to withdraw from their 401 early without penalty.
    The exception may apply to those who are leaving their employer, either voluntarily or involuntarily.
    The rule of 55 only applies to your current workplace retirement plan and doesn't spare you from paying regular income tax on the withdrawal.
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