One exception to the 401(k) early withdrawal penalty is known as the rule of 55, and it can allow you to take distributions from your 401(k) or 403(b) without having to pay a penalty. To use the ...

Editor’s note: "The Rule of 55" is part eight of an ongoing series focused on how to retire early and the FIRE (Financial Independence, Retire Early) movement. Part One is How to Retire Early in ...

(NewsNation) — Taking money out of a tax-deferred retirement plan like a 401(k) before the age of 59 ½ typically comes with a penalty, but an IRS provision known as the rule of 55 can help you ...

Luckily, tax-advantaged retirement plans offer a lesser known option for penalty-free early withdrawals: the rule of 55. The rule of 55 is an IRS guideline that allows you to avoid paying the 10% ...