Savings and InvestmentsInvesting For Retirement |
When can I begin withdrawing money from my 401k? |
You may begin withdrawing from your account by April 1 of the calendar year after turning age 70 ½ or April 1 of the calendar year after retiring, whichever is later.
You should always try to keep your nest eggs safe and not access money that you should be saving for a rainy day. Once you turn 70 and one half years old—or April 1 of the year after you retire—you can start withdrawing money from your 401k without a penalty.