If you're a regular money girl listener, you've heard me say that the official retirement

age for tax-advantaged accounts, like an individual retirement account or IRA, is 59.5. It's a very

specific age. But what if you want to tap your hard-earned money before then?

Withdrawing funds from a retirement account early typically means paying a hefty 10% early

withdrawal penalty plus applicable taxes. However, the good news is that there are strategies and

legal ways to crack open your retirement

nest egg or even use other accounts if you want to retire early. So this podcast will review

four ways to skip that dreaded penalty and still use your retirement funds anytime you like.

Hey, everyone, welcome back to episode

1024 of Money Girl. I'm Laura Adams. I'm an award-winning author, a financial spokesperson, and

money speaker. In the show notes, you can find links to learn more about me and how to reach out.

All right, let's talk about those four ways to fund early retirement penalty-free.

Whether you're ready to leave a high-pressure job, or maybe you just can't work anymore due to physical

or mental limitations, or you want to pivot to a different lifestyle, early retirement may be right for you. However, if you have investments

in one or more tax-advantaged accounts, they typically require you to exceed an age limit or pay

that 10% early withdrawal penalty on distributions that I mentioned. But the good news is that I'm going to review several

legal ways to tap your tax-advantaged accounts as needed. The first is to use the rule of 55.

The rule of 55 is a terrific escape hatch if you're an employee participating in a workplace retirement plan.

It could be a 401k or a 403B or other types.

This is an IRS rule that says if you leave your job for any reason, during or after the

calendar year you turn 55, you can start taking penalty-free distributions from

that specific employer's retirement plan. However, any amounts not previously taxed would be

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