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But what are the exact rules aroundearly withdrawals?
Can you pull one off without a penalty?
Thats in addition to the income tax due on withdrawals from traditional retirement accounts.
And there are still other consequences for and early withdrawal from a 401(k).
Yet there is one recent change that Orman highlighted.
Its not too hard to qualify, either.
All it’s crucial that you do is submit a written notice that the withdrawal is for an emergency.
Your $1,000 annual limit assumes you will still have at least $1,000 remaining in the retirement account.
So, yes, it’s possible for you to make early withdrawals from your 401(k).
But will those withdrawals be worth it?
Just follow the rules.
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