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Form 29 See Rule 55 1

Form 29 See Rule 55 1

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Instructions and help about Form 29 See Rule 55 1

I've got six things you should know about the rule of 55 hi this financial planner Shawn molan let's discuss so the first thing to know about the rule of 55 is that it is an exception to the 10% early withdrawal penalty that applies any time we take a taxable distribution from a retirement account prior to Turning age 59 A5 the 10% early withdrawal penalty could be a real barrier to hey I want to retire early by conventional standards but I'm not yet 5 9 and a half and the rule of 55 comes in and says well wait a minute from the employer retirement plan when you separate from service prior to 59 a. half as long as that separation occurs in your 55th birthday year or later you could take from that employer's retirement plan and not worry at all about the 10% early withdrawal penalty it's a real feature real benefit for those of us thinking about retiring prior to Turning age 59 A2 the second thing to know about the rule of 50 5 is what matters is

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