| Title | : | Early Withdrawal Penalty Exceptions |
| Lasting | : | 12.23 |
| Date of publication | : | |
| Views | : | 4,3 rb |
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I would love to reach out to you guys for some advice As a 17 year career public safety firefighter, I have been reading about the new Secure Act 20 allowing distributions after 25 years of service, WITHOUT penalty I can NOT eligibly retire from my County until I am 55, but can I take withdrawals without penalty at age 50, or 25 years of service if I separate or resign? Comment from : Brandon |
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If you retire early ,does the 10 penalty end when you hit 59 1/2 years old ? Comment from : tbugher62 |
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Update: Since this post, I’ve been diagnosed with Multiple Myeloma a somewhat rare blood cancer Things have become complicated for sure In my fifth round of chemo and a stem cell transplant in September So as I see it, I can collect without penalty I have three different accounts I have an IRA, an annuity and a 401k from CVS I’m 58 and I retired last year to care for my severely disabled wife She has MS and can no longer walk, has no control of her bodily functions, cannot bathe herself and needs help with eating I have absorbed all household duties, and all grocery shopping, in addition to caring for her 100 percent of the time We have been living off our savings and some door dashing I put her in our vehicle and we deliver food for a couple of hours It gets her out of the house, but it’s getting increasingly difficult as her mobility is decreasing I’ve been trying to hold out until I’m 59 1/2, but our checking account now has less than 25 grand The most money that I’ve ever made in one year is 65,000, but with equity in our home and retirement, I had a net worth of almost a million The market in the last year has changed a few things and not for the better Any suggestions? Comment from : Jack Thomas |
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Good information Thanks Comment from : Mark Cummings |
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