personalcapital.com - website profile

When Can You Withdraw From Your 401k Or IRA Penalty-Free?

Early withdrawals from an IRA or 401k account can be an expensive proposition because of the hefty penalties they carry under many circumstances. The IRS allows penalty-free withdrawals from retirement accounts after age 59 1/2 and requires withdrawals after age 70 1/2 (these are called Required Minimum Distributions [RMDs]).