Jon C. Ogg 24/7 Wall Street Published 6:00 AM EDT Mar 24, 2019 One of the greatest rewards one can receive after a lifetime of hard work is a comfortable retirement. They call it the "golden years" for a reason. Unfortunately, many people are nearing the age of retirement but failed to plan, and will not see anything that reminds them of gold when it comes time to stop working full-time. The most common forms of funds dedicated to helping Americans retire are 401(k) plans and variations of the Individual Retirement Account, or IRA. Most companies do not offer pension plans or defined-benefit plans to employees any longer, so it is up to the employee to use IRAs and 401(k)s as a defined-contribution plan to help build that retirement nest egg. Are you saving enough for retirement?: Better plan on that money lasting at least 23 years Where to live when you retire: Your Social Security check won't cover rent in these 8 states With the bull market turning 10 years old, it is … [Read more...] about What is the penalty to withdraw money from 401k early? A lot.