In this episode, we dive into the common question: Can I withdraw from my 401(k) while still employed?

Spoiler alert: Yes, it’s possible, but it depends on a few factors like your age and your 401(k) plan’s specific rules.

We break down the main scenarios, including:

• In-Service Withdrawals: How reaching age 59½ can open the door to penalty-free access to your funds.
• Hardship Withdrawals: What qualifies as a financial hardship and the tax implications of tapping into your savings for emergencies.
• Taking a 401(k) Loan: Borrowing against your retirement savings and the repayment rules you need to know.
• Age 55 Rule vs. Still Working: Why this special exception doesn’t apply if you’re still on the job.