Editor’s note: "The Rule of 55" is part eight of an ongoing series focused on how to retire early and the FIRE (Financial Independence, Retire Early) movement. Part One is How to Retire Early in Six ...

If you try to withdraw early from just about any retirement plan, you'll be slapped with a penalty—an incentive to leave your money alone and let it build toward retirement like you always intended.

If you try to withdraw early from just about any retirement plan, you'll be slapped with a penalty—an incentive to leave your money alone and let it build toward retirement like you always intended.

Retirement accounts exist to help you invest to build wealth for your golden years. That’s why Internal Revenue Service (IRS) rules make it challenging to withdraw money from tax-advantaged retirement ...

Learn the early retirement withdrawal rules that allow you to access retirement funds before age 59½ without penalties, including the Rule of 72(t) and the Rule of 55, and how to use them wisely.

The rule of 55 can benefit workers who have an employer-sponsored retirement account such as a 401(k) and are looking to retire early or need access to the funds if they’ve lost their job near the end ...

There's usually a 10% early withdrawal penalty if you take money out of your 401(k) under age 59 1/2. The Rule of 55 lets you take funds from your most recent employer's 401(k) without penalty if you ...

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Retiring at 55 can feel like crossing a finish line, but ...