Taking Money From Your 401(k) Before 59½: The Rule of 55

Today, Ira and Jim talk about when and why you would want to take money out of your 401(k) before the age of 59½. Most people know about the 10% penalty for taking money out early, but don’t know that some plans and the IRS allow for taking money out after 55 if you leave or lose your job. Listen along as these advisors share how job changes later in your life can change your retirement plans and what you need to know about your 401(k) plan to avoid creating tax and income issues down the road.

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