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How does the 59.5 rule work? A Comprehensive Guide to Retirement Withdrawals

Before age 59½, an early withdrawal from a retirement account can trigger a 10% penalty from the IRS. Understanding **how does the 59.5 rule work** is crucial for anyone planning for a secure and financially sound retirement. This rule determines when you can access your hard-earned savings penalty-free, but it also includes important exceptions to consider.