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    dolphanmom's Avatar
    dolphanmom Posts: 1, Reputation: 1
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    #1

    Oct 10, 2009, 06:43 AM
    401 K withdrawal
    If at 59 1/2 I withdraw from my 401K, can I do it once and leave the rest of the money in my account or do I have to take more payments?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Oct 12, 2009, 09:59 AM

    You can make as many (or as few) withdrawals as you want, whenever you want. The one exception is if you had previously elected for what is known as a 72(t) withdrawal - typically this is a technique used by people less than 59-1/2 to avoid paying an early withdrawal penalty. To qualify for the exemption from the penalty under these rules you are required to take essentially equal withdrawals annually.
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