Happy Saint Patty's Day to everyone.
This day starts the last year before I can access the money in my 401K without penalty. I am 58 1/2. At 59 1/2 I can access the money I have saved for SOOOOOOOOOOO long.
Good luck to all those Oracle'rs that are waiting for retirement and drink some green beer for me!
What makes you think the information is real?
You shouldn't post identifiable information like this. There might be only one employee at Oracle who is in that age bracket. Most of them are new college hires.
Wishful thinking ...
You shouldn't post identifiable information like this. There might be only one employee at Oracle who is in that age bracket. Most of them are new college hires.
I don't believe you even need the complication of a 72t distribution. I think the Oracle/Fidelity plan allows for withdrawals at age 55 if you no longer work for the company (but you would want to double check).
i.e. https://www.irahelp.com/slottreport/age-55-rule-taking-money-out-company-retirement-plan
This post demonstrates why 401k as a replacement for pensions is an abject failure, and a large part of the upcoming retirement income crisis. Leaving regular folks to deal with investment over a working lifetime is a failure. It is very complicated requiring professionals. People are coerced into investments with unreasonable fees. Others put too many eggs in the wrong basket, like so many of the Enron employees. Financial crashes. Even the founder of the 401k program regrets that it took over the retirement income landscape.
I hope you have a great St. Patty’s Day and congrats on your impending financial freedom. Sounds like you have a good lump of cash. Please get some independent professional advice. The rule about fiduciaries and investment reps was repealed so you cannot trust most company based agents. Thank trump for that sop to Big Finance.
If you quit tomorrow then you can access your ORCL 401K without penalty, per § 72(t)(2)(A)(v). Thank Dubya for that.