Substantially equal periodic payments must run five years or until 59 and a half whichever is longer

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The 10 percent penalty on withdrawals before 59 and a half has a shorter exception list than most people assume The rule of 55 allows penalty-free 401(k) withdrawals if you leave the job in or after the year you turn 55 Required minimum distributions now begin at 73 and a Roth 401(k) no longer forces them at all Sequence of returns risk hits early retirees hardest because withdrawals during a crash lock in the loss A hardship withdrawal still owes income tax and usually the penalty unless the reason sits on the short IRS list Leaving before the state pension age means bridging the gap from savings with no public income at all Why do people struggle to retire early? The annual additions limit counts employer match and after-tax money so the headline deferral cap is not the real ceiling Beneficiary forms override your will so an outdated designation can send an IRA to an ex-spouse The IRA limit is per person so a spouse with no earned income needs a spousal IRA to contribute at all