Question: Can I withdraw money from my 401(k) before I retire?
Answer: Yes, you can withdraw money from your 401(k) plan anytime. However, money withdrawn before you turn 59 ½ is typically considered an early distribution and you will probably owe an early distribution penalty. One exception to the early distribution penalty is for those who separate from service (i.e., no longer work at their job) but who have reached age 55. Regardless, ordinary income taxes will be due on any distribution.
