The 401k Age 55 Rule for Early Retirement

401k Age 55 Rule man awaiting early retirement

Retirement accounts like IRAs, Roths, and 401(k)s offer incredible tax benefits. But those benefits come with strings attached. You cannot generally take money out of a retirement account prior to age 59½ without incurring a penalty, though there are exceptions. Congress recognized that not everyone would retire in their 60s when they created this legislation […]

What it Actually Means to Claim Social Security for Early Retirement

Social Security Early Retirement

The decision on when to claim social security is complicated enough when retirement comes at the normal retirement age. You’ll need to think about health conditions, personal preferences, spousal benefits, and of course, your social security benefit amount. But when your goal is to leave the rat race as soon as possible, you add another […]