Need to clarify that you can only withdraw from 401K between age 55 and 59.5 without penalty IF you left the company with that 401K in the year that your turned 55 or later. You cannot tap into a 401K plan from an employer that you left before the year you turned 55yo. Also if you rollover the money from the 401K into an IRA, you lose that ability and will need to wait until you are 59.5.
Need to clarify that you can only withdraw from 401K between age 55 and 59.5 without penalty IF you left the company with that 401K in the year that your turned 55 or later. You cannot tap into a 401K plan from an employer that you left before the year you turned 55yo. Also if you rollover the money from the 401K into an IRA, you lose that ability and will need to wait until you are 59.5.
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