As of 2025, the average 401(k) balance for Americans in their 50s is around 490,000 dollars. That means a 54-year-old with 4 ...

A Roth conversion ladder is a little-known but somewhat clever strategy to minimize taxes in early retirement. The strategy ...

Making your first retirement account withdrawal is a milestone — one that requires planning, timing and strategy. The right ...

A large portion of employees withdraw their entire 401(k) balance when they leave a job rather than rolling it over to their ...

A 401 (k) is designed for retirement, not short-term emergencies. The baseline rule is this: withdraw money before age 59½, ...

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.

An early withdrawal penalty is a penalty incurred when withdrawing funds from a retirement account before a certain point in time. Early withdrawal penalties typically apply to retirement accounts or ...

Early withdrawals from your 401(k) may ease today’s cash crunch, but taxes, penalties, and lost compound gains can cost you tens of thousands in the long run.

Forbes contributors publish independent expert analyses and insights. Host of the Retire Sooner podcast and CFP™ practitioner. Many investors gain penalty-free access to retirement accounts at age 59½ ...

So, you’ve done a good job of saving for retirement and have a nice balance in your retirement account. Then a problem comes up and you are unable to pay a rather large financial obligation. There ...