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retirement

When can you retire and start drawing from 401k plans?

asked by justme38 (23)

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Tags:  retirement  when

answers

Of course you can retire whenever you want. But 401k plans generally permit withdrawal without penalty only after you have reached 59 1/2 years of age. Prior to that there will be a penalty for withdrawals. By age 70 1/2, you are required start withdrawing money.

6 votes

You can actually withdraw from most 401k plans at any time, but there is a stiff penalty. The standard retirement age is 65.

1 votes

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