401-K plans are a form of deferred-tax retirement account ... That said, the rules over 401-K withdrawals generally state that they are subject to federal income tax, based upon the account ...

Individuals facing a terminal illness can access their retirement funds penalty-free by obtaining the proper documentation ...

Roth 401(k)s allows tax-free withdrawals after age 59 1/2 and five years after the first contribution to the account. RMDs are no longer required for Roth 401(k)s as of 2024, simplifying management.

OK, so what happens if I need the money, Lisa, and I dip into an IRA or a 401k? Lisa Greene-Lewis: If you withdraw from your IRA or 401k, and you're younger than 59 and 1/2, you will incur an ...

Early withdrawals from a 401(k) often incur a 10% early withdrawal penalty if you're under 59 1/2. Certain situations, like reaching age 55, leaving a job, having a disability or using funds for a ...

You’ve also probably heard that taking cash out of your 401(k) before you’re 59½ is generally inadvisable, given the taxes and penalties on early withdrawals. Either way, if you need assets ...