Anyone in the age group 40-49??

[wstu32]

41 right here dude!

 

[heebygeeby]

Wowsers! It looks like there are quite a few of you in your 40s and retired. That's pretty cool and, well, unbelievable! I have a question, however. I'm assuming that many of you have your money socked away in retirement accounts (401k, IRA, etc). So, how are you tapping into these accounts at such a young age without penalty? I am quite curious!

 

[clsmith]

I'm new here, almost 43, and hope to retire before I'm 60.

 

[Life_is_Good]

45 yrs in body..... much younger in mind.

 

[Nords]

I'm assuming that many of you have your money socked away in retirement accounts (401k, IRA, etc). So, how are you tapping into these accounts at such a young age without penalty? I am quite curious!

First spend down the taxable accounts.

Then withdraw Roth IRA contributions-- which can be done anytime without penalty.

Some 401(k)s can be tapped as early as age 55 under certain conditions without penalty.

For the rest of the IRA (and 401(k)s rolled over into IRAs), there's 72(t).