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Reply to "Should I stop daydreaming about retiring at 55?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous] -Start saving in a brokerage and/or a HYSA too. You need 4-5 years of cash you can draw on between 55-59.5 to supplement your pension before you can get to your retirement vehicles.[/quote] This isn’t necessarily true and depends on the retirement account. If it’s a 401k, you can withdraw at 55 under the rule of 55. 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. I skimmed the OP and the retirement account structure wasn’t clear to me - may or may not apply to OP but sharing here for others. [/quote] OP here. My main account is in a 457(b) plan which I understand actually has no age restriction for distributions, but I do have to leave my job first.[/quote]
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