For both 401(k)s and IRAs, there’s a 10 percent penalty for withdrawing funds earlier than the age of 59.5. There are some exceptions to that rule: disability, the purchase of a first house, hardship withdrawals for medical bills, and a 72T. A 72T permits you to withdraw cash from a 401(okay) or IRA in even disbursements based on the amount of…[Read more]