Rule of 55

Jones

fILE A GRIEVE!
Staff member
Should also add that you have to have retired in the same year you turned 55 (or later). If you retired at 51 or 52 like some folks here you have to wait til 59 1/2.
 

Round the block again

Well-Known Member
Thank you, my roof is okay but some days it rains like it never used to - 24 hours pouring hard. It’s nice to have a 401K so was wondering if we can tap a little when you need it. I did retire at 55 too
 

UpstateNYUPSer(Ret)

Well-Known Member
Company tried to trick me into this 401K, joke would have been on them, I can't even run 1K.
Actually the joke is on you------401k are an excellent retirement investment choice. You can choose to either have the money come out pre-tax (Traditional IRA) or post-tax (Roth IRA). The two big pluses w/401k's are time and compounding. It sounds like you are young(ish)-----you should not plan on either the pension or Social Security being there when it is time for you to retire.

They should not be thought of or treated as piggy banks.
 
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