Rule of 55

[DriveInDriѵeOut]

Actually the joke is on you------401k are an excellent retirement investment choice. You can choose to either have the money come out pre-tax (Traditional IRA) or post-tax (Roth IRA). The two big pluses w/401k's are time and compounding. It sounds like you are young(ish)-----you should not plan on either the pension or Social Security being there when it is time for you to retire.

They should not be thought of or treated as piggy banks.

No one asked you Dan.

 

[IVE GOTTA PACKAGE 4U]

You want to check out the IRS Rule 72(T).
Here it a link that explains it for you.

72(t) Rule: Definition, Calculation, and Example

Rule 72(t), issued by the Internal Revenue Service (IRS), allows for penalty-free withdrawals from an IRA account and other certain tax-advantaged accounts.

www.investopedia.com

72T is different than the rule of 55

 

[UpstateNYUPSer(Ret)]

No one asked you Dan.

C'mon.....you should know better by now.

 

[What'dyabringmetoday???]

Actually the joke is on you------401k are an excellent retirement investment choice. You can choose to either have the money come out pre-tax (Traditional IRA) or post-tax (Roth IRA). The two big pluses w/401k's are time and compounding. It sounds like you are young(ish)-----you should not plan on either the pension or Social Security being there when it is time for you to retire.

They should not be thought of or treated as piggy banks.

Not everyone can squirrel away the cash like you did. Lol.

 

[MethodsMan]

Actually the joke is on you------401k are an excellent retirement investment choice. You can choose to either have the money come out pre-tax (Traditional IRA) or post-tax (Roth IRA). The two big pluses w/401k's are time and compounding. It sounds like you are young(ish)-----you should not plan on either the pension or Social Security being there when it is time for you to retire.

They should not be thought of or treated as piggy banks.

Unless you’re in the West. The WCT plan is in the green and within 5 years should be self sufficient. Best planned pension in the country.