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The rule of 55 can benefit workers who have an employer-sponsored retirement account such as a 401(k) and are looking to retire early or need access to the funds if they’ve lost their job near ...
Under the terms of this rule, you can withdraw funds from your current job’s 401(k) or 403(b) plan with no 10% tax penalty if you leave that job in or after the year you turn 55. (Qualified ...
How to make retiring at 55 work for you. Benefits could also be reduced if your early retirement prompts an early Social Security claim. ... 5/12 of 1% per month for any prior month.
Once you turn 55, you’re eligible to contribute an additional $1,000 to a health savings account — or an HSA. ... Colorado generally taxes Social Security benefits over $20,000 for residents ...
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Some senior discounts kick in when you turn 50, which is also the age you can qualify for AARP membership. But the list of establishments that offer senior discounts grows even longer once you hit 55.
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