Early withdrawals can shrink your 401(k) savings. See how to calculate the IRS 10% penalty, and learn about exceptions, SECURE 2.0 updates, and penalty‑free alternatives.

Tapping into a 401(k) plan early could come with penalties — unless you qualify for an exception. Many, or all, of the products featured on this page are from our advertising partners who compensate ...

There's typically a 10% early withdrawal penalty if you take money out of your 401(k) before turning 59 1/2. The IRS does offer some exceptions to this rule. Even if you qualify for an exception, ...

A 401(k) hardship withdrawal lets you take money from your retirement savings to cover an urgent financial need — like medical bills, tuition or preventing foreclosure. But while hardship withdrawals ...