i want to retire early and i heard about the rule of 55 which says i can withdraw a certain amount of money?

i want to be able to withdraw from my 401k without being penalized for taxes

Public Comments

1. I think you are speaking of Regulation 72t. If you are not yet 59 1/2 and take a regular and evenly distributed monthy distribution from your 401k for 5 years you can be excused from the 10% early distribution penality. You will have to pay taxes, however, on the withdrawal. Please read my profile and send me an email if you wish to chat.
2. yes rules have change and it is worth loking into -- example i take out 13800 of which i pay taxes but the 401k grows more that that amount so i will be increasing in when i reach 68!!