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2. 8 ways to take penalty-free withdrawals from your IRA or 401(k)

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   6. First-time homebuyers. Though you may take money out of your 401 (k) to use as a down payment, expect to pay a 10 percent penalty. However, take the money from your IRA, and it’s penalty-free ...

3. 401(k) withdrawal rules: What to know before cashing out ...

   www.aol.com/finance/what-are-401k-withdrawal...

   The minimum withdrawal age for a traditional 401 (k) is technically 59½. That’s the age that unlocks penalty-free withdrawals. You can withdraw money from your 401 (k) before 59½, but it’s ...

4. 401(k) and IRA hardship withdrawals – 5 ways to minimize ...

   www.aol.com/finance/401-k-ira-hardship...

   So if they need the money for other hardship reasons (such as a principal residence, tuition or funeral expenses), account owners will still end up paying the 10 percent penalty tax. 4. Focus on ...

5. Younger homeowners more likely to have used retirement ... - AOL

   www.aol.com/finance/younger-homeowners-more...

   The IRS encourages workers to save for retirement by sheltering income directed to 401(k) plans and IRAs from taxes. If you withdraw funds from your 401(k) before you reach the age of 59 ½, you ...

6. The pros and cons of taking out a 401(k) loan - AOL

   www.aol.com/finance/pros-cons-taking-401-k...

   For example, if you had a 401(k) loan balance and left your employer in January 2024, you’ll have until April 15, 2025 to repay the loan to avoid default and any tax penalty for the early ...

7. How To Get Around the 401(k) Withdrawal Penalty - AOL

   www.aol.com/around-401-k-withdrawal-penalty...

   If you have a 401(k) and are leaving or have left the employer, you can roll over your 401(k) into an IRA and then take the money out of the IRA. If you are able to do this, you can take premature ...