Expert Q&A

What is retirement age for a 401k?

I was just wondering at what age I need to start withdrawing funds from my 401k and do I face a penalty if I don’t withdraw money by a certain age?

Related Topics: Retirement Planning, Saving, IRA and 401ks
Related Tags: 401k, Withdrawl
David  I. Strunc, CRPC
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By David I. Strunc, CRPC - Sunrise Wealth Advisors, Inc.
Answered over 5 years ago

Retirement age in which you will not be charged the 10% early distribution penalty is 591/2, but there are some exceptions with rule 72T. You may also take loans out without the 10% penalty in some plans. All 401k plans and IRA’s where will force you to start taking your RMD’s (required minimum distributions) at age 70 1/2. You can check our more on this at

Terese L. Culver
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By Terese L. Culver - New York Life/NYLIFE Securities
Answered almost 2 years ago

59 1/2 is the age at which you are allowed to take 401k distributions with no penalty. Required minimum distributions must be taken out by age 70 1/2 or additional penalties will be applied.

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