How old do you have to be to withdraw from your 401k?


Quick Answer

To take distributions from a 401(k) plan, you must be at least 59.5 years old, according to Bankrate. You can take an early distribution from your 401(k) plan before that age, but there may be tax consequences.

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Full Answer

The government assesses a 10 percent tax penalty on early withdrawals from 401(k) plans, as noted by Bankrate. The government offers a waiver of penalties for an account holder taking distributions to cover costs associated with buying a first home, paying for college, or for paying hardship-related costs. Totally and permanently disabled account holders may also withdraw retirement funds early without incurring penalties.

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