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Retirement Estimator/Calculator
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<blockquote data-quote="Red Headed Stranger" data-source="post: 5841394" data-attributes="member: 90351"><p>You do not have to have 30 years in with your employer. They two key points are leaving your employer between the ages of 55 and 59 1/2 and making the choice to withdraw funds from your 401(k) at that time. When I left my former employer (retired at 55), they gave me the choice if I wanted to take my 401k money out without penalty. I chose to leave it in (not take the withdrawal at age 55), then did a direct rollover into an IRA. Taking the money out at that time would have greatly increased my income and I did not want to be in a higher tax bracket and pay more out in income tax from my 401(k).</p></blockquote><p></p>
[QUOTE="Red Headed Stranger, post: 5841394, member: 90351"] You do not have to have 30 years in with your employer. They two key points are leaving your employer between the ages of 55 and 59 1/2 and making the choice to withdraw funds from your 401(k) at that time. When I left my former employer (retired at 55), they gave me the choice if I wanted to take my 401k money out without penalty. I chose to leave it in (not take the withdrawal at age 55), then did a direct rollover into an IRA. Taking the money out at that time would have greatly increased my income and I did not want to be in a higher tax bracket and pay more out in income tax from my 401(k). [/QUOTE]
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