Can I withdraw from my 401k at age 60?

Answer by  Ranger305 (96)

You can start withdrawing for a 401k, without penalties, at age 55. You can only do this if you retire at age 55, not before.

Answer by  OU (135)

You can withdraw from your 401K anytime but you will have to pay a early withdrawal penalty at the age of 60. The withdrawal will be added to taxable income.

Answer by  Latin4 (11170)

Yes, but you still have to pay the IRS it's 30%. Check to see if your input is before or after tax deductions.

Answer by  Caenaise (165)

You can start taking withdrawals from the 401(k) plan balance at age 59 1/2 so long as you have stopped working for the employer or an exception applies.