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    deliguy 86's Avatar
    deliguy 86 Posts: 1, Reputation: 1
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    #1

    Feb 29, 2016, 10:49 AM
    Cashing 401k
    Retired 3 years ago, I'm 67 years old. Can I withdraw or transfer my 401 k without penalty?
    ebaines's Avatar
    ebaines Posts: 12,130, Reputation: 1307
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    #2

    Feb 29, 2016, 11:02 AM
    Yes! You may take withdrawals without penalty, though assuming this is not a Roth 401(k) you will owe ordinary income taxes on it. And you can always roll your 401(k) over to an IRA with taxes or penalties - this is true regardless of age.
    ma0641's Avatar
    ma0641 Posts: 15,681, Reputation: 1012
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    #3

    Feb 29, 2016, 11:44 AM
    Quote Originally Posted by ebaines View Post
    And you can always roll your 401(k) over to an IRA with taxes or penalties - this is true regardless of age.
    I assume you mean "without".
    ebaines's Avatar
    ebaines Posts: 12,130, Reputation: 1307
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    #4

    Feb 29, 2016, 02:06 PM
    Quote Originally Posted by ma0641 View Post
    I assume you mean "without".
    Yes - the second sentence of my post should have read " And you can always roll your 401(k) over to an IRA without taxes or penalties - this is true regardless of age." Thanks for catching that!

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