There are limited exceptions. Taxpayers may withdraw up to $10,000 penalty-free from an IRA for a first-time home purchase, though income taxes still apply. That exception does not extend to 401 (k) ...

Early withdrawals can shrink your 401(k) savings. See how to calculate the IRS 10% penalty, and learn about exceptions, SECURE 2.0 updates, and penalty‑free alternatives.

This new rule will give families more flexibility by allowing some people to tap into their retirement savings early without the usual penalty, to help cover the cost of long-term medical care even ...

If you’ve been saving for retirement, you’ve probably wondered: when can I actually take money out of my 401(k) without paying penalties? The IRS has very specific 401(k) withdrawal rules, and ...

Though not confirmed, that’s apparently the case according to a recent report. President Trump — as part of a broader Executive Order (EO) on home ownership and affordability — may seek to allow 401(k ...

There's a new rule coming to 401(k) catch-up contributions this year that affects higher earners. And it may also have an ...

A 401(k) plan is a tax-advantaged retirement account offered by many employers. There are two basic types—traditional and ...

There's usually a 10% early withdrawal penalty if you take money out of your 401(k) under age 59 1/2. The Rule of 55 lets you take funds from your most recent employer's 401(k) without penalty if you ...

Early 401(k) withdrawals are those you make under age 59 1/2 without a qualifying reason. You'll pay a 10% early withdrawal penalty on top of ordinary income taxes. Consider early 401(k) withdrawals ...