What’s the #1 thing people know about retirement accounts? They are good for your taxes, but they lock your money up until you are 59½. This is generally true, but it leaves out two important loopholes that can let you get money out early. The two biggest ones — the Rule of 55 (simple) and Rule 72(t) (complex and risky), can fit into an early retirement strategy such as FIRE (Financial Independence, Retire Early).
This article draws heavily on earlier discussions like tax strategy and IRA rollovers after leaving your job. In fact, the Rule of 55 creates an important exception to my usual rollover advice.
