Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here. (Sponsor)The IRS imposes a 10% early withdrawal penalty on 401(k) distributions taken before age 59½, on top of ordinary income tax. If someone pulls $150,000 in a single year to cover two years of expenses, the combined cost is steep: $15,000 in ...