There are often penalties attached to taking early withdrawals from retirement accounts, but there are also some exceptions.

Saving for retirement in a 401(k) comes with several valuable advantages. Your contributions are made with pre-tax dollars, which lowers the amount of income you are taxed on. In addition, the ...

For workers considering early retirement, the question of how to access their 401(k) funds without incurring penalties is crucial. The IRS typically imposes a 10% penalty on withdrawals made before ...

You don't need us to remind you how challenging the economy is—it's completely understandable that hardship withdrawals from 401(k)s hit a record high last year. But you may be surprised to learn that ...

A special rule gives you access to your 401(k) if you leave your job the year you turn 55 or later. Just because you're allowed to tap your 401(k) doesn't mean you should. Also, make sure to ...

A 50-year-old fire captain in Ohio walks out of the station for the last time with a pension election form, a deferred compensation statement, and roughly $700,000 sitting in her employer’s 401(k) and ...

You also need the right strategy to get around the early withdrawal penalty on most retirement accounts. Otherwise, you'll pay the IRS 10% of every withdrawal you make under age 59 1/2. Fortunately, ...

Receiving severance pay as a lump sum can result in a much higher tax bill. These options let you spread the tax impact over ...