what age can you withdraw from 401k for retirement
1. Understand 401(k) withdrawal after age 59.5. At the age of 59.5, you are to considered to have reached the minimum distribution age, and can therefore begin withdrawal from your 401(k) without being subject to a 10% penalty on early distributions. There is a 10% penalty on hardship withdrawals if you are under 59.5. 2  In addition to the 10%, whatever you take out is taxed as income. 3  So, for example, if you take out $10,000 from your 401(k), you might actually receive only a little more than half of that sum.