If you try to withdraw early from just about any retirement plan, you'll be slapped with a penalty—an incentive to leave your money alone and let it build toward retirement like you always intended.

Forbes contributors publish independent expert analyses and insights. Host of the Retire Sooner podcast and CFP™ practitioner. Happiness may be subjective, but with multiple studies suggesting ...

(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 avoid ...

A 50-year-old fire captain in Ohio walks out of the station for the last time with a pension election form, a deferred compensation statement, and roughly $700,000 sitting in her employer’s 401(k) and ...

As of 2025, the average 401(k) balance for Americans in their 50s is around 490,000 dollars. That means a 54-year-old with 4 million dollars saved is far beyond the national average, close to eight ...

You don't need us to remind you how challenging the economy is—it's completely understandable that hardship withdrawals from 401(k)s hit a record high last year. But you may be surprised to learn that ...

Hardship withdrawals from 401(k) accounts hit a record high last year, and Ted Benna says the “Rule of 55” can help some people avoid penalties. The rule says if you leave your job during or after the ...