Just roll the dice, that's the best advice you will ever get.
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I suggest you talk to a financial advisor familiar with ATT. A lot of rubbish advice here as usual. I left 12/30 last year and left no stone unturned…..HR One Stop is a joke for help.
Not much. When inflation averaged 2%, I figured out my magic age as 62. Now, it has been pushed forward to 65. Inflation and poor stock market performance has been a double whammy. It really just saps your wealth.
There are some pension rules related to age also. I believe they all go away at 55. Hope your pension is large enough so that you can take a lump sum.
Rule of 55 works - I retired 11/2021 and have been withdrawing funds from my 401k since then.
Another day older and one step closer to death. The sun is the same, in a relative way, but you're older. So shine on you crazy diamond.
You can also withdraw penalty free from an IRA using the 72T rule.
Main issue is health insurance and drawing down your 401k if you retire at 55. Only withdraw if in an emergency or you have plenty of money to last for a possible 40 more years of retirement. Most people can’t and would need to find other employment.
Research the IRS Rule of 55, this is the IRS rule that lets you access your 401k the year of your 55th birthday without the normal 10 percent penalty.
Mistyped on phone. Without early withdrawal fee. It’s a decent option but I do recommend double checking everything.
Do some research. If you leave a company in the year you turn 55 you can access your companies 401k where you retired as if you were 59.5 without the early wiI just recently learned this from a financial advisor. https://www.schwab.com/learn/story/retiring-early-5-key-points-about-rule-55#:~:text=This%20is%20where%20the%20rule,pay%20taxes%20on%20your%20withdrawals.
Closer to death.
You can only access your 401k at the age of 59 1/2, not 55. Also, you're funding your social security which they take the best 35 years of earnings to determine your benefit. You can work anywhere, just don't retire until at least 55 years of age!
Not sure. Depends on your years of service. I do know if you stay until the year you turn 55, you can access your 401k funds without the early withdrawal penalty. That may be why.