Posted by Granny Sue 4 years ago In:

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Granny Sue
Granny Sue Asked About '401(k)s - AOL Money '

401K after 59.5

What exactly changes in my 401K after the age of 59 and a half? 

When can I start withdrawing funds without paying taxes? 

 

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Dan
Dan Answered:

At that age your are able to take distributions in any amount (pull out cash) without penalty.  At age 70 1/2 you must take minimum distribution.  That distributiopn depends on several factors such as your age and amount in the 401k.

<a href="http://www.myrealestateira.com/" rel="nofollow">Self Directed IRA and Self Directed 401k Advisor</a>
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Daddy Paul
Daddy Paul Answered:

You can roll your 401K over to an IRA and I would. You will always have to pay taxes you do not have to pay penalties after 59.5.

http://hubpages.com/hub/Roll-your-401K-over-to-an-IRA

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