Lisa Smith 🛵
Region: US
Friday 05 June 2026 21:33:01 GMT
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Cclemons :
but you have to pay taxes
2026-06-07 15:22:08
32
PBandJelly357 :
Only if your company participates in the rule of 55.
2026-06-07 03:29:42
24
KT_1163 :
Just did this in January. Retired from my 34 year nursing job at 56.
2026-06-06 14:02:07
54
Andi :
Clarifying a point: It’s not the age of 55, it’s the YEAR you turn 55. I know this because I’m doing it this year - started this past February and my 55th birthday is in October.
2026-06-06 23:48:32
16
Beaniegean :
i separated from my employer 2 weeks after my 55th birthday. i take enough out of my 401k every month to pay my mortgage and cover the taxes. i also cut one day off my work schedule! ( penalty free!)
2026-06-06 19:23:30
8
SanRo206 :
Can you work part-time?
2026-06-07 22:42:26
5
Tim Wells :
Borrowed from 401k but had to pay taxes even after paying taxes from my paycheck. Im63 yes oold
2026-06-07 21:35:19
8
NYRFAN3099 :
Do you get taxed twice when ya pull money from ya 401k after 59 1/2
2026-06-08 01:22:04
7
Randy Albertson215 :
I'm 2 years from 55 but having lots of health issues. if I can't go back to work and still be employed there do I loose this option?
2026-06-07 13:57:31
6
almost⚡️heaven :
You have to withdrawal while making an omelette. That’s the catch.
2026-06-08 11:26:08
7
runforchips :
Not if you retire before 55
2026-06-07 23:47:07
5
Whome :
Yes, keyword is once you leave a company can’t do anything before that
2026-06-07 23:25:30
5
CB1500 :
If the plan allows….
2026-06-07 23:10:30
8
gmf47 :
What about retiring before 55?
2026-06-09 02:03:45
5
Dave :
I tell everyone this!
2026-06-08 00:37:38
7
Jackson :
Yes I retired at 55 and used the rule of 55. It amazes me the amount of advisors that don’t even know this is a thing. They keep trying to get me to put it in an annuity but those charge much higher fees and limits the amount of $ you can get.
2026-06-06 17:01:47
20
user3024418448282 :
It also must be written in the employers summary plan description.
2026-06-07 11:59:49
8
ec :
If i take it now how will i retire
2026-06-08 01:34:59
5
J MD :
Same for IRA’s?
2026-06-07 02:51:57
5
Dawn❌ :
That’s not always true. Most companies don’t offer it. Mine did not. You must check first.
2026-06-07 21:08:55
17
Big Afro :
I’ll be 59 next year and will retire from the City of Austin with a retirement plan with a monthly pension and access to low cost healthcare til age 65. Unless something catastrophic happens, I have no need to draw from my 401K for years to come.
2026-06-06 16:00:29
11
starr1374 :
For those retiring at 55, what do you use for insurance?
2026-06-07 18:28:18
7
Brian Wheeler :
make sure your 401k plan allows it (not all do)
2026-06-06 15:50:59
10
arthernandez767 :
I wish I knew that when I got laid off and got another job. I messed up by starting another 401k. Now the rule of 55 applied only to my current miserable job. If something happens with a job, it'll be worth looking into other saving options. Especially if the new job sucks.
2026-06-06 20:29:10
5
Dan Skott :
Yes. 🙌 I had planned to retire at 50 until I found out about the rule of 55 so I stayed 5 additional years.
2026-06-07 01:07:54
6
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