Ian F (Forum Supporter) said:At 52, I'm hoping to retire at 60 - when one can withdraw from a 401k account penalty-free.
You can withdraw from a 401k penalty free starting at age 55 if you retire.
Ian F (Forum Supporter) said:At 52, I'm hoping to retire at 60 - when one can withdraw from a 401k account penalty-free.
You can withdraw from a 401k penalty free starting at age 55 if you retire.
I retired at 55 after 35 years with one employer. Fortunately that came with a pension that was about half my salary. Continued my old company's health care at my expense.
I immediately started my own business to make up the slack. I could control the hours etc. Plus I love what I do. At 62 I started drawing the SS because of the aforementioned break even point being age 79. Kept going with my little business.
Never touched any of my investments until forced to at 72. Then only the required minimum withdrawal.
Notice that SS keeps getting COL adjustments every few years.
Still working at work I love to do. Home tonight from a 12 hour day. Not one to play golf and pickelball 6 days a week.
YMMV
You'll need to log in to post.
